Pi Network Price Stuck Under $2, Needs A 57% Rise To Form New All-Time High
- Pi Network price at $1.90, currently facing resistance at $1.98; a breakout could push it toward $2.30 and set the stage for a new ATH.
- RSI and ADX indicators show bullish momentum, suggesting that Pi Network's recovery could be gaining strength in favorable market conditions.
- $2.30 is the key resistance for Pi Network to overcome; a successful flip could lead to a retest of its previous high at $3.00.
Pi Network’s price has recently faced a downturn, primarily driven by bearish broader market cues. The altcoin, which once peaked at $3.00, has since fallen below $2.00.
Despite this, the market conditions seem to be improving, offering Pi Network a potential chance for a rebound in the coming days.
PI Network Is Changing Gears
The Relative Strength Index (RSI) has recently reentered the bullish zone, signaling that Pi Network’s bullish momentum is picking up strength. This is a positive indication that the broader market conditions are starting to improve.
As the RSI shows signs of increased strength, Pi Network could be poised for a recovery. This momentum suggests that investor confidence is rising, with many seeing the current dip as an opportunity.
Pi Network has also shown improvement in its macro momentum, especially with technical indicators like the Average Directional Index (ADX). The ADX slipped below the critical threshold of 25.0 in late February and early March, signaling that the previous downtrend was losing strength. This shift is key in providing space for a potential recovery.
Should the ADX breach the 25.0 threshold again during the recovery phase, it would signal the strengthening of an uptrend. This indicates that Pi Network could see further upward momentum, supported by a more favorable macro market environment.
PI Price Has Room For Growth
Pi Network’s price is currently trading at $1.90, just below the $1.98 resistance level. The altcoin is making efforts to break this barrier and reach $2.30. Investor support is strong, with broader market conditions also providing an encouraging backdrop for Pi Network’s price recovery.
Successfully breaching and flipping $2.30 into support is crucial for Pi Network to continue its upward movement. A sustained push through this level would put the altcoin on track to retest its all-time high of $3.00, warranting a 57% rise. Such a move would confirm the uptrend, offering further bullish momentum for the token.
However, if Pi Network fails to breach $1.98, it could fall back toward the $1.64 support level. Losing this support could invalidate the bullish outlook and lead to further losses. This scenario could extend the downtrend, highlighting the importance of maintaining support at $1.64 for a continued recovery.
OKX
Explore
YouHodler
Explore
Wirex
Explore
MEXC
Explore
OKX
YouHodler
Wirex
eToro
eToro
eToro
eToro
MEXC
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
Most Discussed
- 1
- 2
- 3
- 4
- 5
- 6
- 7
- 8
- 9
- 10