Pi Network, why does it keep falling despite the AI boost?

▲ Pi (PI)/ChatGPT generated image ©

Pi Network (PI) has newly introduced AI-based app development capabilities, but the market is experiencing stronger selling pressure. Technical indicators also suggest a higher probability of further decline rather than a short-term rebound.

According to investment specialized media FXStreet on May 15 (local time), Pi Network is currently at risk of breaking below the lower boundary of its short-term trading range. The analysis indicates that the price is moving below the 50-period Exponential Moving Average (EMA) of $0.1733 on the 4-hour chart, with rebound attempts continuously being limited.

However, Pi Network's ecosystem expansion efforts are ongoing. Pi Network recently introduced a new 'vibe coding' feature for developers. This allows apps created with AI-powered coding tools such as Codex, Claude Code, Replit, Cursor, and Lovable to be directly converted into 'Pi Apps'. The media evaluated that AI-based development support can shorten app creation time and help activate the Pi ecosystem, which has a user base of approximately 60 million people.

Nevertheless, the market trend remains bearish. PI is currently trading below the 50-period EMA of $0.1733 and the 200-period EMA of $0.1771. Additionally, the downtrend resistance line near $0.1741 is acting as strong overhead resistance. The Relative Strength Index (RSI) has fallen back below the neutral line at 45, and the Moving Average Convergence Divergence (MACD) also shows a weak sideways trend without a clear rebound signal.

The media diagnosed that selling pressure is persisting in the current structure. Specifically, it explained that if the short-term support level breaks, there could be further correction down to the $0.1645 range, where the long-term downtrend line and S1 pivot point are located. Conversely, for an upward reversal, it must first break the resistance levels of $0.1733 and $0.1741, after which the recovery of the 200-period EMA at $0.1771 is presented as a key turning point.

The market evaluates that while attempts to expand the AI-based ecosystem could be a positive factor in the mid-to-long term, short-term technical bearish trends are having a stronger impact. The media analyzed that it is difficult to see a full trend reversal until PI recovers the previous trendline breakdown zone at $0.1824.

*Disclaimer: This article is for investment reference only, and we are not responsible for any investment losses based on it. The content should be interpreted for informational purposes only.*