Key Price Points

Following the recent rollout of two significant features on Friday, Pi Network’s price continues its downward trajectory, failing to register any notable traction.

Market sentiment turned bearish post-news, preventing a recovery.

Recent Price Action

While price action exhibited positive momentum prior to the feature announcements, sustained gains proved elusive. The price breaching the 20-day EMA (Exponential Moving Average) on Wednesday suggested potential strength, but bulls failed to translate this into a victory over the significant overhead resistance presented by the 50-day SMA (Simple Moving Average) at the $0.66 threshold.

Consequently, the price reversed course and closed below the 20-day EMA the following day, reinforcing bearish momentum and suggesting continued selling pressure.

Technical Analysis

Current indicators point towards oversold conditions, particularly on the 4-hour timeframe, where the relative strength index (RSI) suggests potential oversold territory. This could foster a buying opportunity, but bears maintain dominance given the prevailing downward trend.

Pi (PI) Price Prediction

Technical levels present distinct possibilities:

• Resistance: $0.66 (50-day SMA) remains a primary barrier. A sustained push above $0.56 (20-day EMA) could signal renewed buyer interest.
• Support: Pressure is building around the critical psychological round number of $0.47. A validated hold or bounce from this level is crucial.

The 4-hour chart reinforces bearishness with the 20-day EMA (trend line) sloping downward and the RSI approaching traditional oversold territory (~30).

A recovery attempt aimed at the $0.47 support level is anticipated. If buyers manage to reclaim this level and subsequently move above the 20-day EMA, this could signal a start to an upward correction targeting the $0.66 resistance.

Potential Scenarios

Bulls face considerable challenges in reversing the downtrend.

If $0.47 holds and price action extends above the 20-day EMA, a rally could target the $0.66 peak (50-day SMA). Further upside might see the $0.70 zone tested.

Alternatively, a breakdown below the $0.47 support level significantly increases the risk of further losses, potentially drawing price back toward the $0.40 region.

Close monitoring of the 20-day EMA (dynamic support/resistance) is essential.