- Pi Network price remains below $0.10 as bearish pressure limits its recovery.
- A break above $0.0961 could open the way toward $0.1183.
Pi Network price slipped on Monday after gaining 5% last week. PI remains below the key $0.10 level, limiting the scope for a stronger recovery.
Broader crypto market sentiment has improved, with the Fear and Greed Index at 40. Meanwhile, PI Open Interest has stayed above $9 million for six consecutive days, while resistance at $0.0961 continues to limit the recovery.
PI Price Remains Below Key Resistance
Pi Network price closed lower in the previous session and continued to face selling pressure on Monday. The $0.0961 level remains the main barrier for the current recovery attempt.
CoinAnk data shows that PI futures Open Interest stands at $9.26 million. The figure has remained above $9 million over the past six days.
Meanwhile, broader market sentiment is showing signs of improvement. The Fear and Greed Index is at 40, marking a shift away from the fear zone.
Improving sentiment could provide support for PI. However, stronger buying pressure may be needed before the price can challenge the $0.10 level again.
Pi Network Price Forecast
PI continues to trade within a broader bearish structure on the daily chart. The price remains below the 127.2% Fibonacci extension at $0.0961, keeping this level important for the next move.
Technical indicators are showing some improvement. The MACD is above its signal line and rising in negative territory. This points to easing selling pressure. The RSI is also recovering and is currently near 49. A move above the 50 level would indicate that buying pressure is becoming stronger.
A daily close above $0.0961 could improve the short-term outlook for PI. If buyers push the price through this resistance, the next major level to watch would be $0.1183. On the downside, the broken descending trendline near $0.0950 is the first support level. A sustained move below this area could expose PI to deeper losses.
The $0.0700 record low remains the key downside level. For now, PI remains under pressure despite improving market sentiment. A break above $0.0961 would weaken the bearish setup, while failure to reclaim the level could keep sellers in control.
ALSO READ: Crypto Weekly Review: Bitcoin ETFs Rebound, CLARITY Act Stalls, Solana Developments…
DISCLAIMER:
The views and opinions expressed herein are solely those of the author and do not necessarily reflect the views of the publisher. The publisher does not endorse or guarantee the accuracy of any information presented in this article. Readers are encouraged to conduct further research and consult additional sources before making any decisions based on the content provided.
About the Author
