Pi Network (PI) price trades at $0.1714 inside a falling channel on the 8-hour chart. But three indicators are now turning bullish. Two of them are diverging from the downtrend. And the third one is supporting the price.
The shift comes as Pi Network completed its first KYC validator reward distribution, processing 526 million tasks across more than 1 million validators. With the V21.2 hard fork finalized on April 6 and 119,000 pioneers finishing second migrations, the network is delivering milestones while Pi Coin price still grinds lower.
RSI and MFI Diverge as Dip Buyers Step In
Between March 27 and April 7, Pi Coin price made lower lows inside the falling channel. However, the Relative Strength Index (RSI), a momentum indicator measuring the speed of price changes, did not follow.
RSI formed a mild higher low during the same window, creating a bullish divergence on the 8-hour chart. The current reading of 34.54 sits below the neutral 50 line, but the divergence suggests that selling momentum is fading with each new low.
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The Money Flow Index (MFI), a volume-weighted momentum indicator that acts as a proxy for dip-buying activity, tells a similar story. While prices trended lower from March 27 to April 7, MFI trended higher. The current reading of 45.24 shows that buyers have been stepping in on dips despite falling prices.
The network backdrop supports the demand shift. Pi Core Team distributed rewards to over 1 million KYC validators who processed 526 million verification tasks, a milestone the team described as proof of its decentralized workforce capability.
Chart divergences alone, however, do not confirm reversals. Whether larger holders are participating becomes the next question.
CMF Trends Higher as Network Milestones Stack
The Chaikin Money Flow (CMF), a proxy for larger-holder buying and selling pressure, adds weight to the case. CMF reads 0.02, sitting above the zero line. Between April 5 and April 7, CMF trended higher alongside price. This suggests that the recent bounce possibly has larger-holder participation behind it rather than retail speculation alone.
The timing aligns with on-chain activity. Over 119,000 Pi Network pioneers have completed second migrations, unlocking transferable balances. While second migrations add tokens to circulation, the CMF trend suggests that this new supply is being absorbed rather than dumped.
With momentum, dip-buying, and flow data all leaning the same way, the price chart becomes the decider of whether these hints produce an actual breakout.
Pi Coin Price Levels That Decide the Trend
PI trades at $0.171, just 2% below the upper trendline of the falling channel at the 0.236 Fibonacci level of $0.174. A daily close above $0.174 would break the bearish structure and shift the short-term bias from bearish to neutral.
Above the channel, $0.180 at the 0.382 Fibonacci level is the first resistance. A sustained move higher targets $0.189 at the 0.618 Fibonacci level. $0.204 becomes the extended target if momentum carries through.
Falling channel breakouts carry a nuance. Volume must confirm the move. A low-volume break (currently the state) above the upper trendline risks trapping buyers before the downtrend resumes. CMF staying above zero would serve as the confirmation filter.
On the downside, $0.165 is the floor. A break below it would invalidate the RSI and MFI divergences and resume the broader decline. $0.174 now separates a channel breakout toward $0.189 from a continued slide toward and even under $0.165.
