Pi Network has been facing a challenging period after its price dropped by 18% in the last 48 hours.
This drop has invalidated its recent attempt to recover losses from March. The altcoin is now vulnerable to further corrections, raising concerns among investors.
Pi Network’s Bearishness Could Grow
The Relative Strength Index (RSI) continues to indicate that bearish momentum is still present. Currently stuck below the neutral line of 50.0, the RSI is signaling a lack of bullishness for Pi Network. This suggests that the altcoin may face additional downward pressure in the coming days.
The ongoing negative sentiment is compounded by the general market’s lack of momentum. Investors are hesitant to buy Pi Network due to the failure to sustain price recoveries. With no clear bullish signal from the RSI, the risk of further declines remains high.
The Bollinger Bands are narrowing, indicating that Pi Network may soon experience a surge in volatility. This contraction typically signals an impending price breakout or breakdown. However, if the bearish momentum continues, Pi Network could face a sharp decline, confirming the downward trend.
Given the current squeeze in the Bollinger Bands, Pi Network’s price could see a significant move soon. If the bearish trend holds, this volatility may drive the price lower, exacerbating the altcoin’s already weak performance. The uncertainty surrounding the market adds to the vulnerability of Pi Network.
Pi Network’s price is currently at $0.613, but it is still stuck below the $0.617 resistance level. After the 18% drop in the last two days, the altcoin remains under pressure. If the price continues to face downward momentum, it may struggle to break through key resistance levels.
The next major support level for Pi Network is $0.519, which could be the next target if the selling pressure intensifies. A drop to this level could be a precursor to further declines, potentially bringing the price below $0.500. This would significantly impact investors holding the altcoin.
However, if Pi Network can reclaim the $0.617 support, it could break the downtrend and rise toward $0.710. Breaching this resistance would invalidate the bearish outlook and could spark a recovery, giving investors hope for a reversal.
A recent report from Reown reveals that the on-chain ecosystem is maturing, with users expanding their engagement beyond trading activities. Many believe that payments and artificial intelligence (AI) will be crucial in driving the wider adoption of on-chain technology.
Despite optimism about crypto’s future, challenges such as fees, security, and interoperability persist.
The Future of Crypto Adoption
Reown shared its report, “The State of Onchain UX,” with BeInCrypto. It draws from a survey of 1,038 active crypto users in the US and UK, conducted between February 19 and February 26, 2025.
“For crypto payments to truly reach the mainstream, they must match the ease of traditional fintech experiences. Users should be able to transact effortlessly without needing to understand blockchain mechanics,” Reown’s Payments Product Manager Mirna Barca wrote.
AI is seen as another key driver, with 35% of users identifying it as a major catalyst for adoption. Nonetheless, while AI’s potential is acknowledged, there is some skepticism about blockchain’s role in AI development.
Only 29% believe the two technologies will complement each other. Meanwhile, just 18% see crypto as facilitating AI’s progress.
“Despite trading taking the crown when it comes to user activity today, payments and AI dominate as the two themes users feel will play bigger roles on a greater scale, suggesting that the leading services users access today does not reflect what they believe to drive its long-term value,” the report read.
Shortly after President Trump took office, the SEC established a crypto task force to create a clear regulatory framework for digital assets. In fact, new SEC chairman Paul Atkins has also stressed the importance of crypto regulation, calling it a ‘top priority.’
This focus has contributed significantly to industry optimism, and user data exemplifies that. 86% of users believe it will drive mainstream adoption, while 14% think it will slow innovation.
“We’re in the final throes of regulatory uncertainty in the US. In Europe, MiCA is finally taking shape, but a lack of precedent has kept innovators guessing, just like in the US. The industry is on the cusp of regulatory clarity but we aren’t quite there yet,” Marco Santori, Director of WalletConnect Foundation, remarked.
What Are the Top Factors Holding Back Widespread Crypto Adoption?
Confidence in on-chain security has risen significantly, with 69% of users feeling safe, up from 50.5% last year. However, so have phishing attacks. The number of phishing attacks reported by users has grown to 21%, up from 14.4%.
“Phishing attacks are up, and that’s a problem. But security UX still isn’t where it needs to be. If we can make transaction signing clearer and build in fraud protection, we can help users feel more in control,” Reown’s CEO Jess Houlgrave commented.
A notable 44% of users now use multiple wallets for security reasons, up from 32.8% in 2024. In addition, 18% of users cite security concerns, such as hacks and scams, as a barrier to engaging on-chain.
Challenges in Mainstream Crypto Adoption. Source: Reown
Notably, users also emphasized the need for interoperability, with 47% considering it very important. Additionally, 18% cited a lack of interoperability as a barrier. Despite this, only 14% listed it as one of the core issues that need to be resolved.
Therefore, the report draws attention to the need for developers to focus on real-world use cases, ensuring seamless, secure, and cost-effective user experiences. It also highlights a disconnect between user expectations, centered on payments and social apps, and current behavior, which remains heavily trading-focused.
“Understanding and addressing this dynamic will be critical to achieving true mainstream adoption,” the report noted.
With 67% of survey participants optimistic about crypto’s development, the on-chain ecosystem is poised for growth. However, addressing security, fees, and interoperability will be essential to unlocking its full potential and driving the next wave of mainstream engagement.
