Introduction to PI Network Price Analysis
The PI network price has been experiencing significant volatility in recent weeks, with a notable decline below the $0.35 support level, which has now transformed into resistance. Despite this breakdown, bulls have been actively defending the auxiliary zone of $0.26, where the price is currently attempting to stabilize. The Relative Strength Index (RSI) has registered extreme oversold measurements, similar to conditions that have triggered strong rebounds in the history of PI.
Key Technical Points for PI Network
The current consolidation phase will be crucial in determining whether the market can build a permanent basis for reversal. The introduction of a new Dex and AMM upgrade has not yet had a significant impact on Pi’s price, indicating that sentiment has not been completely shot. The PI network has lost $0.35, which is now being dealt with as resistance, and the price is trying to form a base at $0.26 with high confluence support. The RSI is extremely oversold, signaling potential for a bullish reversal.
- The PI network lost $0.35, which has now been dealt with as resistance.
- The price tries to build a base at $0.26 with a high level of confluence.
- RSI is extremely oversold and signaling potential for a bullish reversal.
Market Analysis and Trends
The latest decline from PI Network began with the loss of $0.35, a level that previously acted as an important pivot point for buyers. As soon as it was broken, it quickly turned into resistance, ending the supervision and increasing bear pressure. This triggered a volatile movement lower, in which bulls had to occur aggressively to defend the next significant technical level. The support zone of $0.26 has turned out to be a focus area, with several confluences making it a probable candidate for a structural base.
Piusdt (1D) Argines, Source: Tradingview
Future Price Campaign Expectations
The most convincing bullish factor is the RSI, which is now in an extremely oversold area. Historically, similar RSI conditions in the PI network have preceded sharp restorations or bullish reversals. This technical background increases the possibility of a further recovery cycle if the impulse is shifting in favor of buyers. However, confirmation is still required, and for a valid reversal, Pi needs to post several daily closures above the $0.26 support to strengthen the base. As soon as this happens, bulls could make the price test $0.35, the resistance, and possibly higher levels if the volume supports the move.
The PI network is trying to stabilize at $0.26 while acting under overall RSI conditions. If this basis lasts and the volume increases, a reversal in the direction of $0.35 resistance can develop. Conversely, the loss of $0.26 would uncover lower levels of support and extend the bearish trend. For more information and the latest updates on PI Network, visit https://crypto.news/pi-network-price-defends-yearly-lows-as-market-enters-oversold-conditions-is-a-reversal-possible/
