Trusted

Pi Network’s Price to Recover After Bullish Crossover Ends Holders’ Nightmare

2 mins
Updated by Harsh Notariya
Join our Trading Community on Telegram

In Brief

  • Pi Network shows signs of recovery as the MACD approaches a bullish crossover, signaling the end of three weeks of bearish momentum.
  • The price is currently at $0.64, holding above $0.61 support; a successful breach of $0.71 resistance could push Pi Network to new highs.
  • Continued outflows could hinder recovery, with a drop below $0.61 potentially signaling further stagnation or a decline toward $0.57.
  • promo

Pi Network has been experiencing stagnation for nearly two weeks, with the price failing to make any significant moves. 

The altcoin has faced mixed market conditions, but signs of improvement are emerging. As the market sentiment stabilizes, Pi Network could see a potential recovery in the near future.

Pi Network Needs Support

The Moving Average Convergence Divergence (MACD) indicator signals that Pi Network’s three-week-long bearish momentum may soon come to an end. The MACD line is nearing a crossover with the signal line, which would confirm a bullish crossover. This technical signal often sparks investor optimism, leading to potential price gains.

As the bearish trend weakens and the MACD crossover materializes, the shift in market sentiment could reignite investor confidence in Pi Network. A bullish crossover would likely encourage buying pressure, pushing the price upward. 

Pi Network MACD
Pi Network MACD. Source: TradingView

Pi Network’s macro momentum also points toward a possible recovery. The Chaikin Money Flow (CMF) recently dipped below the zero line, signaling outflows from the altcoin. The CMF has reached its lowest point since early May, highlighting investor uncertainty. However, if the outflows are controlled and the inflows increase, Pi Network could see a reversal in its price direction.

The market’s erratic behavior is primarily due to the hesitation among investors, who remain cautious. However, if the market stabilizes and the balance shifts toward positive inflows, Pi Network’s price could benefit from renewed investor confidence. 

Pi Network CMF
Pi Network CMF. Source: TradingView

PI Price Jump Ahead?

Pi Network is currently priced at $0.64, holding above the support level of $0.61 for the last two weeks. Despite its failure to recover significantly, the altcoin remains above its support level. If the inflows improve and market conditions turn bullish, Pi Network could break through its resistance at $0.71 and push higher.

Should the market sentiment continue to improve, Pi Network could confirm a bullish trend by successfully flipping the $0.71 resistance into support. This would create a solid foundation for a sustained price rise.

Pi Network Price Analysis.
Pi Network Price Analysis. Source: TradingView

However, if the outflows continue to dominate the inflows, Pi Network’s price will likely stay stagnant above $0.61. If market conditions worsen, the price could slip below $0.61, falling toward the next support level of $0.57. Such a decline would indicate that the bullish thesis is invalidated, and Pi Network’s recovery may take longer to materialize.

Top crypto platforms in the US
Figure Markets Figure Markets Explore
Coinbase Coinbase Explore
COCA wallet COCA wallet Explore
Arkham Arkham Explore
Moonacy Moonacy Explore
Top crypto platforms in the US
Figure Markets Figure Markets Explore
Coinbase Coinbase Explore
COCA wallet COCA wallet Explore
Arkham Arkham Explore
Moonacy Moonacy Explore

Disclaimer

In line with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult with a professional before making any financial decisions. Please note that our Terms and ConditionsPrivacy Policy, and Disclaimers have been updated.

Frame-2t314.png
Aaryamann Shrivastava
Aaryamann Shrivastava is a technical and on-chain analyst at BeInCrypto, where he specializes in market reports on cryptocurrencies from diverse sectors, including Telegram Apps, liquid staking, Layer 1s, meme coins, artificial intelligence (AI), metaverse, internet of things (IoT), Ethereum ecosystem, and Bitcoin. Previously, he conducted market analysis and technical assessments of various altcoins at FXStreet and AMBCrypto, covering all aspects of the crypto industry, including...
READ FULL BIO
Sponsored
Sponsored