Key Takeaways
- PI trades within a falling channel, with indicators signaling continued downward momentum.
- Resistance at $0.89, followed by a more substantial barrier at $1.24, continues to make recovery difficult.
- A death cross on the 4-hour chart and both EMAs above the price reinforce the bearish outlook.
Several altcoins have posted notable gains in the last 24 hours. One notable exception is PI, the native token of the Pi Network.
Rather than join the broader market bounce, the Pi Network’s lackluster performance has exposed it to further losses. For now, the cryptocurrency remains firmly locked in a downtrend.
This bearish price action stands in stark contrast to its previous surge. During that period, the price spiked to $1.65 amid heightened market interest.
Will PI recover anytime soon? Let’s find out.
Market Recovers Without PI
At the time of writing, PI’s price is trading at $0.64, representing a 55% decline over the past month. This drop appears driven by waning demand and increasing sell-side pressure, which have weighed heavily on market sentiment.
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The downturn has also disrupted PI’s technical structure. The price remains trapped within a falling channel on the daily chart and is now approaching the pattern’s horizontal support level, suggesting a further breakdown.
Amid the ongoing downtrend, the Supertrend indicator has flipped bearish, with its red line now positioned above PI’s current price.
Typically, a green Supertrend line below the price acts as support, indicating potential upside. In contrast, a red line above the price denotes resistance and suggests bearish sentiment remains in control.
Given this setup, the Pi Network price may struggle to break above the immediate resistance at $0.89.
Even if it does, a second key barrier lies at $1.24, making any sustained recovery heavily dependent on sustained buying pressure.
The Moving Average Convergence Divergence (MACD) has also confirmed a bearish crossover.
This occurs when the shorter-term Exponential Moving Average (12 EMA, blue) crosses below the longer-term 26 EMA (orange), reversing the usual bullish setup.
As of this writing, the MACD histogram remains in negative territory. If this trend continues, PI’s price could face further downside pressure.
PI Price Prediction: No Relief
Again, like the daily charts, the 4-hour chart is sending a clear message—PI’s price recovery won’t be easy. In the chart below, the 20-period EMA (blue) is still above the 50 EMA (yellow).
PI is flashing a death cross on the 4-hour chart—a bearish signal that forms when the short-term EMA crosses below the long-term EMA. To make matters worse, both EMAs are sitting above the current price, flipping from support to resistance.
The setup suggests bears are still in control, and unless sentiment shifts, the Pi Network price could slip to $0.60. If sellers double down, a drop to $0.50 might not be off the table.
But the narrative could quickly change if momentum flips and the death cross morphs into a golden cross.
PI might rebound toward $0.77 in that bullish scenario, right at the 0.618 Fibonacci level.
Disclaimer:
The information provided in this article is for informational purposes only. It is not intended to be, nor should it be construed as, financial advice. We do not make any warranties regarding the completeness, reliability, or accuracy of this information. All investments involve risk, and past performance does not guarantee future results. We recommend consulting a financial advisor before making any investment decisions.
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