Pi Network (PI) has experienced notable volatility recently, with its price declining over 53% from this year's high to approximately $1.3880 as of March 17, 2025.

Technical analysis suggests the formation of an inverse head and shoulders pattern, indicating a potential bullish reversal. A confirmed breakout above the $1.7940 resistance level could propel PI's price above $2 in the near term.

However, recent bearish momentum has raised concerns about PI potentially dropping to $1.

In summary, while technical indicators point toward a possible bullish reversal, market conditions remain uncertain. Investors should exercise caution and consider both bullish and bearish scenarios when evaluating PI's short-term prospects.