Pi Network (PI) has lost its key support level at $0.16, now acting as resistance, as selling pressure intensifies. The cryptocurrency's price has dropped to $0.15, with buyers showing weak conviction amid low trading volumes. If the price falls below $0.13, it could signal a continuation of the macro downtrend that began in February. The daily RSI has entered the oversold territory, suggesting a potential bounce as sellers may pause. However, any recovery might be temporary, with a retest of the $0.13 support level likely. This could further encourage sellers to push the price lower if buyers fail to regain control.