Pi Network Price Analysis: Downtrend or Recovery?

Currently, Pi Network (PI) is trading around $0.96, recording a fall of over 11% in the past 24 hours. After a brief recovery to $1.1655, the price has faced strong selling pressure, causing many investors to worry whether PI will continue to fall or if there is a chance of recovery.

Technical Analysis Important Support Levels Nearest support level: $0.86 – This is an important zone where if the price holds, it could create momentum for a recovery. Next support level: $0.70 – If the price falls below $0.86, it is likely to continue falling to the $0.70 zone, where strong buying interest from investors could be attracted. Important Resistance Levels Main resistance level: $1.1655 – This is a major barrier preventing PI from rising. If it can break through, the price may target $1.50 – an important level that helps confirm a stronger upward trend. Trend Indicator Exponential Moving Average (EMA): Currently, the PI price is below the short-term EMA lines, indicating that the bearish trend is still dominant. Trading volume: Trading has increased but is largely dominated by selling pressure, reflecting weak market sentiment. Short Term Forecast If PI holds the support at $0.86, there could be a strong recovery up to $1.1655 and further to $1.50 if the upward momentum is maintained. Conversely, if the $0.86 level is broken, the price is likely to fall to $0.70, where investors may wait for a buying opportunity. Conclusion Pi Network (PI) is at a crucial stage. If it holds $0.86, the price could recover to $1.50. However, if selling pressure continues to dominate, it is highly likely that the price will fall to $0.70 before finding stability. Investors should closely monitor these support and resistance levels to make informed decisions.