PI/USD Price Faces Sharp Rejection As Bears Target Key Support
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PI/USD Price Analysis – Sellers Regain Control as Price Tumbles from Resistance
Pi Network market has experienced a significant bearish reversal after a recent rally attempt was decisively rejected at a key resistance level. Sellers have stepped in with force, erasing recent gains and pushing the price back towards its multi-month lows. This strong downward momentum suggests that the asset’s long-term bearish trend is reasserting itself, with critical support levels now in sight.
PI/USD Key Zones
Support Zones: $0.3090, $0.5400
Resistance Zones: $0.4890, $0.7110
PI/USD reveals a market in a prolonged downtrend. Following a major price collapse earlier in the year, the asset has been consolidating at historic lows for several months. This period of sideways movement is characterized by a severe tightening of the Bollinger Bands. Such a formation often precedes a powerful and decisive price move.
At the current stage, the market are trading at $0.3410 key level pressuring the lower Bollinger Band. In the context of an established downtrend, this is a bearish signal, suggesting that the impending breakout from the squeeze is likely to be to the downside.
The Relative Strength Index (RSI), with a reading of 47.58, is positioned just below the 50 midline, reinforcing the underlying lack of buying strength and the prevailing bearish sentiment.
Market Expectation
The 4-hour chart clearly illustrates the recent, aggressive takeover by sellers. After rallying to the $0.4000 resistance zone, the price was met with overwhelming selling pressure, resulting in a sharp decline. The price has since sliced through the middle Bollinger Band (20 SMA), which previously acted as support and will now likely serve as resistance on any retest.
The bearish momentum is confirmed by the RSI, which has plummeted from overbought levels (above 70) to its current reading of 36.94. This rapid drop signifies a powerful shift in market control to the bears.
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