Pi Network (PI) is currently in a consolidation phase, with its price action showing signs of indecision. As key technical indicators present mixed signals, traders are closely watching for a breakout direction. The upcoming unlock of 188 million PI tokens this month could further impact the market dynamics.
RSI Remains Neutral, Awaiting a Breakout
The Relative Strength Index (RSI) for Pi Network is hovering around 46.9, maintaining a neutral stance between 45 and 55 for the past eight days. This range suggests a lack of strong momentum in either direction. Typically, an RSI above 70 indicates overbought conditions, signaling a potential correction, while an RSI below 30 suggests oversold levels, hinting at a rebound. With PI’s RSI in neutral territory, traders are awaiting a decisive shift in momentum.
A move above 55 could indicate increasing buying interest, pushing PI toward its next resistance at $2. Conversely, a dip below 45 could signal growing bearish momentum, potentially leading to a price decline.
DMI Signals Bearish Pressure Building
Pi Network’s Directional Movement Index (DMI) reveals a strengthening bearish trend. The Average Directional Index (ADX), which measures trend strength, has declined to 11.5 from 17.7, indicating weakening momentum. Meanwhile, the +DI (bullish strength) has fallen to 19.3, while the -DI (bearish strength) has increased to 20.1, showing that sellers are gaining control.
For a bullish reversal, the +DI would need to overtake the -DI, accompanied by a rising ADX. Until this shift occurs, PI may struggle to gain upside traction.
Key Price Levels and Potential Scenarios
Pi Network recently hit new highs at the end of February but has since entered a consolidation phase. If buying pressure returns, PI could test resistance at $2. A breakout above this level, supported by strong momentum, could propel the price toward $3 or higher. However, if the selling pressure persists, especially with the upcoming token unlock, PI may see a decline toward $1.51.
Also Read: Pi Network Listing on Binance? Analyst Predicts Major Exchange Debut Soon
Despite surpassing 4 million followers on X, PI’s long-anticipated Binance listing remains elusive, adding to market uncertainty. Traders should closely monitor price action for signs of a confirmed trend shift.
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.
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