- Pi Network (PI) shows early recovery signs as it holds key support and attracts renewed retail interest.
- Rising open interest and oversold indicators suggest a possible rebound, but strong resistance remains ahead.
Pi Network (PI) is showing early signs of a possible recovery after weeks of selling pressure pushed the price lower. The token has started to stabilize above a key support area as traders watch for signs of a potential trend reversal.
Market speculation around PI is also increasing, with open interest rising as retail traders position for a possible rebound. However, technical indicators still show that Pi Network remains under pressure and needs stronger buying activity to confirm a recovery.
Pi Network Price Holds Key Support as Selling Pressure Weakens
Pi Network recorded a mild recovery after three consecutive days of consolidation. The move came after a sharp decline earlier in the month, which was triggered by weaker market sentiment and reduced appetite for riskier assets.
Despite the recent drop, PI has managed to stay above an important support trendline near the $0.7500 zone. Holding this level has increased hopes among traders that the token could be preparing for a short-term rebound.
Another factor supporting optimism is the upcoming mainnet upgrade to Stellar Protocol version 25, scheduled for July 22. The upgrade has attracted attention from the Pi Network community, with some investors expecting improved network performance to support future growth.
Retail Interest in PI Begins to Increase
Signs of renewed speculative interest are appearing as traders begin watching Pi Network more closely. Data from CoinAnk showed PI open interest increased to $10.73 million, rising from $10.44 million the previous day.
The increase follows a recovery from a recent low of $9.11 million recorded earlier in the week. Rising open interest suggests that more traders are opening positions, although it does not guarantee a price increase.
For PI to confirm a stronger recovery, buyers will need to maintain pressure and push the token above key resistance levels.
Technical Indicators Suggest Possible PI Rebound
From a technical perspective, Pi Network remains in a bearish structure but shows signs that selling pressure may be weakening.
The RSI is near 17, indicating heavily oversold conditions. This suggests that the recent decline may have gone too far and that a short-term bounce could occur. Meanwhile, the MACD remains below zero but shows signs that bearish momentum is losing strength.
The first major resistance level for PI sits near $0.096, followed by a stronger barrier around $0.110. A move above these levels could improve market sentiment and strengthen the recovery outlook.
On the downside, support around $0.067 remains critical. A break below this level could expose PI to further losses toward the $0.014 area.
Pi Network Price Outlook
Pi Network is showing early signs of stabilization after a difficult period, but a confirmed reversal still depends on stronger demand and improved market conditions.
Rising open interest, oversold indicators, and the upcoming network upgrade provide potential bullish factors. However, traders should remain cautious as PI continues to face major resistance levels before a sustained recovery can develop.
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