Pi Network Price Forecast: PI at $0.0754 as $0.0740 Support Faces Pressure

Pi Network (PI) remained under pressure on Thursday, October 29, trading near $0.0754 as weakening cryptocurrency sentiment raised the risk of another decline. The token was approaching support at $0.0740, while broader market liquidations and a lower Fear and Greed Index reflected reduced risk appetite. The Federal Reserve held interest rates at 3.75%-4.00% on Wednesday but noted that inflation remained elevated. Technically, PI remained below key moving averages, leaving sellers with the advantage unless buyers can reclaim nearby resistance.

Crypto Liquidations Weigh on PI

The broader cryptocurrency market faced renewed selling pressure after the Fed’s October 28 decision to maintain its benchmark interest rate. The central bank’s 10-2 vote left rates unchanged, with two officials favoring a quarter-percentage-point increase. Its statement emphasized that inflation remained elevated, keeping investors attentive to the possibility of tighter monetary policy.

According to the supplied CoinGlass liquidation data, approximately $355 million in crypto positions were liquidated over 24 hours, including $207 million in long positions. Long liquidations occur when leveraged bullish trades are forcibly closed, potentially adding selling pressure during market declines.

Meanwhile, the CoinMarketCap Fear and Greed Index fell to 43 from 48 the previous week. The index combines market momentum, volatility, derivatives information and other indicators to assess sentiment. A lower reading suggests investors are becoming more cautious, although it does not independently predict future prices.

Pi Network Technical Outlook Turns Bearish

PI traded around $0.0754, below its 50-day exponential moving average (EMA) at $0.0835 and its 200-day EMA at $0.1131. These indicators give greater weight to recent prices and help traders assess the direction of a market trend. Trading below both averages suggests the token’s recovery remains constrained.

PI also remained beneath a descending trendline near $0.0799, connecting the June 20 and August 22 highs. Momentum indicators offered little evidence of a sustained reversal. The Relative Strength Index (RSI) hovered around 34, approaching the commonly used oversold threshold of 30, while the Moving Average Convergence Divergence (MACD) flattened near zero.

Key levels to monitor include:

• Immediate support: $0.0740, near the October 22 low.
• Lower support: $0.0704, a previous swing low.
• Initial resistance: $0.0799, near the descending trendline.
• Major resistance: $0.0835, near the 50-day EMA.
• Potential recovery target: $0.1049, the 50% retracement of the decline from $0.1394 to $0.0704.

PI Price Forecast: Key Levels Ahead

The $0.0740 level is the immediate test for buyers. A decisive break below it could expose PI to $0.0704, while a sustained hold could allow the token to consolidate before attempting a recovery.

For the outlook to improve, PI would need to reclaim $0.0799 and then move above $0.0835. Clearing these barriers could open a path toward $0.1049, although resistance and broader market conditions may limit the advance.

Conclusion

Pi Network faces a fragile near-term outlook as market liquidations, weaker sentiment and bearish technical indicators weigh on the token. Traders will watch whether PI defends $0.0740 or falls toward $0.0704. A recovery above $0.0835 would offer stronger evidence of improving momentum, but any sustained rebound will depend on broader cryptocurrency conditions and renewed buying demand.