Pi Network (PI) is struggling to find its footing as the broader crypto market remains under pressure. At the time of writing, PI is trading at $0.3501, down about 1.79% in the past 24 hours and nearly 13% over the week. The decline reflects how Bitcoin’s recent pullback continues to weigh on altcoins across the board.
PI fell and is now trading within the $0.34–$0.36 zone. PI is set up in a descending wedge structure, a situation which tends to indicate a bull turn is looming.
Nevertheless, traders are taking a keen interest at this point since confirmation of this move will only come with a rally through $0.36 which could provide a gateway to $0.40–$0.41. Until this materializes, optimism remains guarded.
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PI/USDT 4-hour chart indicates selling pressure. The token is fluctuating near $0.3490, which is only a little above the lower Bollinger Band at $0.3329. The first resistance level is at $0.3617, and there is a stronger barrier around $0.3904
The widening Bollinger Bands show rising volatility, and with PI on a slope to the lower band, bearish momentum is still solid. On a historical basis, this kind of set-up sometimes precipitates short-term bounces.
Momentum indicators contribute to the cautious tone as well. The RSI remains at 34.32, near oversold conditions but not quite yet flashing a distinct bull signal. The MACD remains bearish as well and with no imminent crossover on the horizon. If sellers drive the price below $0.3329, PI can move lower toward the key $0.30 psychological level.
Conversely, maintaining current support might pave the way for a bounce back to around $0.3617. A powerful breakout above $0.39 on the back of firm volume will be required to shift sentiment back to favoring the bulls and indicate a potential reversal of trend.
PI is for now at a crucial point, suspended between the possibility of a fleeting relief rally and further losses as market sentiment generally remains weak.
Also Read: Pi Network Price Prediction: Will Pi Drop to $0.28 or Surge to $0.60?
