Key Insights
- PI rose 1% in the past 24 hours, indicating a modest recovery after hitting a fresh intraday low of $0.1502 on Monday.
- Selling pressure remains despite the recent slight rebound.
Market sentiment remains bearish despite PI’s recovery.
PI, the native token of the Pi Network, gained 1% over the last 24 hours and is currently trading at $0.191 per coin. This modest uptick comes even though the broader cryptocurrency market saw losses in recent hours.
According to PiScan, centralized exchange reserves decreased by 4.24 million PI tokens, pointing to substantial withdrawals over the past day. The decline in exchange holdings reflects strong buying pressure that has helped PI recover above $0.19.
Will PI reach $0.20 soon?
The four-hour PI/USDT chart remains bearish overall, despite the 1% gain in the last 24 hours. At the time of writing, PI trades at $0.191, roughly 30% higher than Monday’s low of $0.1502. This recovery aligns with renewed buying interest and could push the price higher in the near term.
An RSI reading of 33 suggests PI is gradually escaping the oversold zone as buyers step in. However, MACD lines are still in negative territory, indicating sellers have not fully relinquished control.
If the recovery continues and PI clears resistance at $0.1919, it could move toward the psychological $0.2060 zone. A sustained bullish run could even test last week’s high near $0.2116.
Conversely, a daily close below $0.1919 could see PI surrender some of its recent gains and retest near-term support levels around $0.1835 and $0.1632.