On May 28, 2025, the 4-hour chart for Pi Network (PI/USDT) on OKX formed a bearish pennant pattern.
A bearish pennant pattern appears after a sharp price drop, followed by short consolidation inside converging trendlines, and usually signals more downside movement.
If this pattern confirms, the price may fall by about 50% from the current level of $0.7485 to around $0.3743.
The red triangle on the chart shows the pennant boundaries. The price has been moving inside this range after a steep drop that began around May 14. This type of pattern often acts as a continuation signal, which means the price could continue in the direction of the previous move—downward in this case.
The Relative Strength Index (RSI) stands at 41.43, just below the neutral 50 mark. This reading shows that sellers still have control, though not yet in oversold territory.
The 50-period Exponential Moving Average (EMA), currently at $0.7772, sits above the current price. This placement adds resistance and confirms bearish pressure.
Volume has decreased during the consolidation phase, which aligns with typical pennant formation behavior. For the bearish pennant to confirm, the price must break below the lower red trendline with increased volume.
If that happens, it could trigger the expected 50% decline toward $0.3743.
Pi Network Struggles Below Bearish Ichimoku Cloud as Resistance Builds
On May 28, Pi Network (PI/USDT) continued to face strong resistance as the 4-hour Ichimoku Cloud chart signaled a dominant bearish trend. The price remained trapped below the thick red cloud, also known as the Kumo, confirming that sellers still hold control. The cloud serves as a projected resistance zone, and when the price stays underneath it, the trend typically remains negative.
The Tenkan-sen, or conversion line, and the Kijun-sen, or base line, stayed flat above the recent price candles. These two indicators reflect short- and medium-term averages, and their current position suggests weak upward momentum. The market showed little sign of bullish conviction, as the price failed to challenge or even approach the lower boundary of the cloud. This setup also points to indecision, with no clear breakout attempt in recent sessions.
Ahead of the current price action, the cloud remains red and wide. The Senkou Span A, the leading green cloud edge, continues to sit below the Senkou Span B, the red edge. This confirms a bearish Kumo twist, which adds weight to the downward pressure and increases the likelihood that resistance will persist in the coming days.
As long as the price stays below the cloud and the key Ichimoku lines fail to offer support from below, the overall outlook for Pi Network remains tilted to the downside. Bulls will need a decisive breakout above the Kumo, supported by rising momentum from both the Tenkan-sen and Kijun-sen, to signal a trend reversal. Until that happens, bears remain in control.
BBTrend Turns Bearish as Pi Network Momentum Weakens
On May 27, the BBTrend indicator for Pi Network (PI/USDT) flipped back into negative territory, dropping to –1.85 after maintaining positive values for four days. This shift signals a clear loss of bullish momentum and growing downside pressure in the short term.
Between May 22 and May 26, the BBTrend rose steadily and reached a peak of 8.71, reflecting strong upward momentum. During that time, Pi’s price showed signs of recovery, trending above the midline of its Bollinger Bands. However, the recent move below zero suggests that bullish strength has faded.
BBTrend, short for Bollinger Band Trend, is a momentum-based indicator. It tracks the direction and intensity of a price trend using the distance between the price and the central Bollinger Band. When the BBTrend value is above zero, it typically shows that the price is rising with expanding volatility. In contrast, values below zero indicate bearish conditions—falling prices, fading momentum, or a buildup of downward pressure.
The return to negative BBTrend territory means Pi Network now trades below the midline of its Bollinger Bands. This change often signals consolidation or the start of a corrective phase. If no momentum reversal occurs soon, the price may continue to slide or stay under pressure.