Pi Network has lost nearly 90 % of its value within two months. The crypto went from $2.99 to a low of $0.40. This collapse could have marked the end of the enthusiasm, but a recent rebound has brought back attention. While some say it’s just a recovery, others mention the beginnings of a turnaround. As the project is about to cross a key milestone, the price movement in the coming days could reshape the trajectory of this controversial crypto.
The $0.75 Wall Resists Pi Network
Since its rebound to $0.40 on April 5, Pi Network has attempted twice to break the technical barrier of $0.75, without success. These failed attempts, marked by clear rejections on technical charts, confirm the strength of this horizontal resistance.
Pi Network has still not managed to cross the $0.75 horizontal resistance zone, despite a surge described as the “first bullish sign since the start of the correction”. This reversal attempt is still too fragile to assert itself against key technical thresholds.
The analysis of technical indicators reinforces this cautious reading. Several signals converge towards maintaining a bearish bias :
These elements, although purely technical, cast a shadow over the hypothesis of a durable recovery. As things stand, the market structure remains unfavorable for an immediate rebound.
A Bullish Tremor Bringing Hope ?
Despite this technical deadlock, some recent signals indicate a possible reversal. The PI price is currently trying to form a higher low than the previous one, a configuration which, if confirmed, would mark the first structural sign of a trend reversal in weeks.
Pi Network could be creating a higher low, the first since the beginning of the downtrend. This observation suggests that the market might be starting to digest the initial drop to build a base for a rebound.
However, this is where the ambiguity lies. If the price manages to invalidate this pattern by breaking the symmetrical triangle resistance line (which coincides exactly with the $0.77 level), then the entirety of this bearish reading would be questioned.
