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Pi Network’s native token tried to break away from the $0.52 resistance, but has been rejected so far. What comes next?
PI Coin Price Predictions to Watch This Week
Key Support levels: $0.40, $0.44
Key Resistance levels: $0.52
1. Downtrend Remains Intact
PI made a significant attempt at breaking the $0.52 resistance yesterday, but was sharply rejected. Sellers returned in force and have now managed to drive the price of this cryptocurrency to $0.46. Because of this, PI made a lower high, which indicates that the downtrend may not be over.
2. Buyers Are Returning
One key positive signal from the current price action is the increasing interest from buyers, which has spiked the volume. This is the second time the bulls tried to break above $0.52 in July. A third attempt may be successful if they keep up this pressure after this pullback. If not, PI has good support at $0.44 and $0.40.
3. Daily RSI Rejected at 50
The daily RSI was rejected three times since May as soon as it climbed above 50 points or the mid-section. This last attempt was no different. As long as the RSI remains under 50, the bias stays bearish. Buyers will need to turn $0.52 into a key support if they want to be successful.
