PI plunged another 10% this week, breaking support at $0.13.
PI Network (PI) Price Outlook and Analysis
Key support level: $0.10
Key resistance levels: $0.13, $0.16
PI Loses Important Support
After wavering around $0.13, PI failed to hold that level and slipped below it, turning $0.13 into immediate resistance. If market conditions do not change in the coming days, the token is likely to test new lows.
Sellers appear to be targeting $0.10 as the next significant support, a level that could act like a magnet for the price. This outlook makes it difficult for buyers to regain momentum, particularly if they cannot push PI back above $0.13.
Bearish Momentum Is Increasing
Volume profile data show sustained selling pressure with higher volume spikes since mid-May, a sign that bearish momentum has been building. This trend intensified last week as the price broke below $0.13.
Buyers made a short-lived comeback earlier this week, briefly testing the $0.13 level, but were unable to hold it. At the time of writing, bulls and bears are contesting this key zone; whichever side prevails will likely determine the next directional move for PI.
Daily RSI Hints at a Possible Reversal
One constructive sign amid the downtrend is that the daily Relative Strength Index (RSI) formed a higher low, which can be interpreted as a bullish divergence. Such a signal suggests a potential reversal could develop if price action confirms it.
For a bullish divergence to play out, PI would likely need to find a low below $0.13 and then begin a sustained recovery back above that level. Until there is a clear shift in momentum, the prevailing trend remains downward and additional lows are possible.
For traders, falling prices could offer buying opportunities, but only if a credible recovery follows. Absent confirmation of a trend shift, a cautious approach—waiting for stronger signs of a rebound—is advisable.