PI Coin’s Plunge: Last Hope or Just a Mirage?

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Lo and behold, the Pi Network (PI) is now trading at a mere $0.20 on March 21, 2026, trying its best to recover from a 35.74% plunge that began on March 13, following a brief peak of $0.2700-like a weary traveler trying to climb a mountain after a storm.

Yet, the momentum indicators are as cheerful as a man who’s just lost his last dollar. Two technical signals indicate that the selling pressure is as persistent as a nagging mosquito, even though the daily bounce was a modest 4.43%-like a flicker of hope in a dark cave.

Pi Coin Faces Pressure, and It’s Not Happy About It

The Squeeze Momentum indicator is at -0.0241, the most negative reading since the dawn of time, according to the chart. It’s so negative, it could make a polar bear shiver.

The histogram bars have turned deep red and are stretching downward like a snake in a hurry. This means the bearish momentum is picking up speed, not slowing down. The black dots above the zero line on the squeeze band are like a warning shot-‘the squeeze is firing to the downside!’

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For the signal to flip bullish, the red bars would need to shorten and turn green. That has not happened yet. Until SQZMOM crosses back above zero, any price bounce risks being absorbed by persistent selling momentum. It’s like trying to catch a greased pig-no one ever succeeds.

Buying Pressure Dissipates, and So Does Hope

Despite the bearish Squeeze Momentum, the Money Flow Index (MFI) has a more complex story. The MFI hit 84 around March 11-12, a level so overbought it could make a stockbroker weep. Just before the price sell-off began, it was as if the market was saying, ‘I’m done!’

Now, the MFI is at 42.34, a neutral zone where it’s neither too hot nor too cold. The drop from 84 to 42.34 in 10 days is like a firework going out-sudden and dramatic. This reflects a sharp unwinding of buyer pressure, coinciding with the 35% price drop. It’s like watching a party end abruptly.

The MFI’s current neutral zone position means the indicator does not yet support a strong buy signal. A further decline toward the 20 level would signal genuine oversold conditions and could attract fresh buyers. However, the speed of the drop from overbought to neutral suggests capital outflows remain significant. It’s like watching a leaky boat sink-slow, inevitable, and no one seems to care.

PI Price Has a Long Way To Go, and It’s Not Happy About It

The daily price chart shows PI at $0.1992, having taken a 35.74% hit, measuring -0.0971 from the March 13 high. Fibonacci retracement levels are plotted from the February swing low at $0.1600 to the March 13 peak near $0.2700. It’s like a rollercoaster that’s been on a diet.

PI is just above the 0.786 Fibonacci level at $0.1907, the critical support zone. If it closes below that, the next level at 0.618 ($0.1779) will be exposed. It’s like a tightrope walker-step too far, and you’re in trouble.

On the upside, if PI can stay above $0.2070, the correction might be over. The 1.236 level at $0.2250 and the 1.786 at $0.2668 are the key resistance levels. Bulls need to reclaim these to prove the bearish thesis wrong. It’s like a game of chess where the pieces are as stubborn as a mule.

The Kraken listing on March 13, 2026, coincided with the price peak, and the Protocol 20 upgrade gave only a tiny boost. Macro pressures were as heavy as a lead balloon, weighing down the market. It’s like trying to swim in a pool filled with concrete.

If selling from newly liquid token holders continues, the $0.1907 level might not hold. A confirmed bounce and a close above $0.2070, with an improving MFI, would be the clearest sign that PI’s recovery has a real footing. It’s like a phoenix rising from the ashes-but only if the ashes are willing.

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2026-03-22 01:01