Key takeaways
- PI rose 1% in the past 24 hours, marking a modest rebound after hitting a record low of $0.1502 on Monday.
- Selling pressure remains despite the slight recovery.
Market sentiment remains bearish despite PI’s recovery.
PI, the native token of the Pi network, climbed about 1% over the last 24 hours and is currently trading around $0.191 per coin. This uptick comes even as the broader cryptocurrency market experienced losses in recent hours.
Data from PiScan shows centralized exchange reserves fell by roughly 4.24 million PI tokens, indicating significant withdrawals over the past day. The reduction in exchange-held supply reflects strong buying demand and helped PI bounce above $0.19.
Will PI reach $0.20 soon?
The PI/USDT 4-hour chart remains bearish and intact, despite the token gaining about 1% in the last 24 hours. At the time of writing, PI sits near $0.191 — roughly 30% higher than Monday’s low of $0.1502. The rebound aligns with elevated buying pressure and could push the price higher in the short term.
The RSI around 33 suggests PI is slowly emerging from oversold territory as buyers step in. However, MACD lines remain in negative territory, signaling sellers still retain significant influence.
If the current recovery holds and PI clears resistance at $0.1919, it could push toward the psychological $0.2060 level. A sustained bullish move would open the path to last week’s high around $0.2116.
Conversely, a daily close below $0.1919 could erode part of the recent gains and see PI retest short-term support at $0.1835 and $0.1632.