Pi Network Price Prediction: Can $0.40 Support Spark a 150% Rally in August?

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Key Takeaways:

• $0.40 is a key support that has held during past downturns and may again act as a pivot point.
  
• RSI nearing oversold suggests potential seller exhaustion, but confirmation is needed.
  
• Declining OI and sentiment highlight weak market participation and caution against premature optimism.

After skyrocketing 190% in May, Pi Network (PI) has retraced sharply, dropping 75% from its local peak of $1.67 to just $0.40. This critical price point has previously acted as a strong support level in both April and June, raising the question—can it hold again and spark a bullish reversal in August?

Technical Indicators Hint at Seller Exhaustion

Despite the steep drop, technical indicators suggest a potential shift. The Relative Strength Index (RSI) is hovering near oversold territory, signaling possible seller exhaustion. This aligns with previous reversal points and increases the likelihood of a bounce if broader sentiment improves.

However, the SuperTrend indicator remains firmly bearish, maintaining a sell signal for the past two months. For a meaningful reversal, the price must flip key resistance levels—first at $0.67, then at $1.00, which represents the 50% Fibonacci retracement level. These targets would mark gains of roughly 60% and 150%, respectively.

Market Sentiment and Volume Remain Weak

Beyond technicals, on-chain and social metrics present a more cautious picture. According to Santiment data, social volume and market sentiment around PI have been on a steady decline since May, failing to rebound even after a mid-July attempt to spark momentum.

Also Read: Pi Network Defies the Odds: 5 Reasons It’s Thriving Despite the Price Dip

The Open Interest (OI) in derivatives markets has also dropped sharply—from nearly $17 million in late May to below $12 million. Combined with low funding rates, this points to waning speculative interest and a lack of fresh inflows from traders.

A Make-or-Break Moment for PI

While $0.40 has historically provided a springboard for price recovery, a failure to hold this level could open the door to more aggressive selling, possibly dragging PI down to $0.09. Conversely, if bulls defend the level and volume returns, a short-term recovery could be on the cards.

Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses