PI finds support at $0.15, but can it hold?
PI Network (PI) Price Predictions: Analysis
Key support levels: $0.15, $0.13
Key resistance levels: $0.16, $0.20
PI Remains in a Downtrend
After PI lost the $0.16 support level, the price quickly slid to $0.15, where buyers have started to show some interest. It is still too early to confirm whether this level will hold. A stronger support lies at $0.13, which previously rejected selling pressure.
With the recent breakdown, sellers have regained the upper hand and could push PI lower over time, despite buyers attempting to prevent a deeper decline. This is notable given that PI has already retraced roughly 96% from its all-time high.
Sell Volume Remains Low
Although sellers currently hold the advantage, sell volume is relatively low and producing lower highs, suggesting a lack of conviction. This reduced selling pressure indicates they may not be committed to driving PI substantially lower right now.
If the $0.15 support holds, buyers will have an opportunity to retake $0.16 and attempt to rebuild momentum, which could spark a short-term reversal and recover some recent losses since the market turned bearish.
MACD Continues to Fall
The 3-day MACD is still declining, with the histogram reaching new lows. While this is a bearish signal, it is occurring alongside falling sell volume. That combination can be read as a potential bullish divergence, leaving open the possibility of a reversal.
Should the MACD histogram flatten this week, it would suggest sellers are losing momentum and could precede a relief rally or stabilization in price.