Pi Network Drops Below $0.09 With Double Bottom in Sight
FxRoy
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October 6, 2026
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Pi Network price has slid under nine cents and left buyers scrambling to defend key support. The token printed $0.08719 on CoinGecko Monday, down 4.3 percent from Friday’s levels. That retreat came after a brief spike that took it close to $0.095 last week.
Why the Retreat Matters for Short-Term Traders
The drop wasn’t driven by any single headline. Instead it reflects broader profit-taking across smaller altcoins after Bitcoin cooled from its recent peak. Pi’s daily chart shows a potential double bottom forming near $0.085, but the pattern stays incomplete without a decisive break higher.
Traders are watching the next few sessions closely. A sustained hold above $0.086 keeps the bullish structure alive. Lose that level and the path opens toward $0.08, where previous accumulation zones sit.
Broader Crypto Market Context
Pi trades in a segment still recovering from last year’s regulatory overhang. Mainnet rollout delays and limited exchange listings have capped liquidity, making the token more sensitive to risk-off flows than larger coins. That explains why PI has underperformed even as Bitcoin held above $60,000.
What Positions Are Showing Up in the Data
Open interest on perpetual futures has edged lower since the weekend, suggesting some leveraged longs got shaken out. Spot volumes remain modest, which means any bounce could lack follow-through unless fresh buying steps in from larger wallets.
Bull Argument Versus Bear Risks
Optimists point to the double-bottom formation and argue a close above $0.11 would confirm the low is in. That would target the $0.13 zone seen in September. Skeptics counter that without stronger fundamentals or new listings, any rally risks fading fast once early miners start distributing.
Support held for now. Yet the token still trades well below its post-mainnet highs, leaving room for further consolidation.
Where Price Action Heads From Here
The next catalyst sits with overall risk sentiment rather than Pi-specific news. If Bitcoin steadies and altcoin volumes pick up, the double-bottom setup could play out. Otherwise the slide under $0.09 may extend. Watch position sizing if you’re riding the long side here — crypto moves like this can reverse quickly when liquidity thins.