Pi Network’s native cryptocurrency, PI, has found itself in a tough spot, trading within a narrow range and exhibiting conflicting market signals. Over the past week, the token struggled to gain upward traction, most notably failing to break through the key $0.64 resistance level. This rejection, paired with a clear lack of strong buying volume, has left many investors questioning the next move. However, despite the prevailing bearish bias, a short-term opportunity might be emerging—one that risk-tolerant traders may want to consider.

On the daily chart, PI has been consistently pressured by sellers. Its recent close at $0.479 marked a significant drop below the $0.5 level seen on June 22. Yet, while price action paints a gloomy picture, the Money Flow Index (MFI) tells a different story. It has been forming higher lows, indicating a subtle bullish divergence. This type of divergence occurs when momentum indicators begin to recover while the asset’s price continues to drop, often signaling that bearish momentum is weakening.

Though this divergence is a positive sign, it does not override the current bearish structure. For a full trend reversal to take shape, PI would need to convincingly flip the $0.64 resistance zone into support. Until that happens, the downtrend remains intact. Furthermore, the moving averages are still aligned with bearish momentum and are likely to act as resistance should the price attempt to rally.

The On-Balance Volume (OBV) indicator also reinforces the bearish narrative. Over the past month, OBV has steadily declined, highlighting continued selling pressure. The lack of strong buyer participation means bulls will have a hard time mounting a sustainable recovery without a shift in market dynamics. This persistent downtrend in volume suggests any potential bounce could be short-lived unless accompanied by a sharp rise in accumulation.

Despite these challenges, the possibility of a short-term price bounce cannot be dismissed. When we zoom in to the four-hour timeframe, the situation appears more balanced. PI seems to be trading within a clearly defined range, bounded by $0.48 on the lower end and $0.63 at the top. The most recent retest of the range low presents a potential opportunity for a tactical long trade.

The MFI reading on the four-hour chart sits around 47, which reflects a neutral market—neither overbought nor oversold. This neutrality, combined with the recent support retest at $0.48, opens the door for a calculated entry. Traders aiming to go long could consider entering near the $0.48 support level with a tight stop-loss just below $0.47, minimizing potential downside.

A realistic profit target would be the midpoint of the range around $0.558, offering a favorable risk-to-reward ratio of approximately 2.4. While this setup doesn’t guarantee profits, it could deliver solid returns for traders who manage risk carefully and react swiftly to market changes.

Still, this short-term strategy hinges heavily on broader market stability. If Bitcoin, the crypto market’s bellwether, experiences further losses in the coming days, it could drag altcoins like PI down with it. Sentiment across the market often shifts in tandem with Bitcoin’s movements, and negative momentum there could invalidate even well-structured long setups in smaller tokens.

In conclusion, Pi Network’s token is navigating uncertain territory. Its longer-term trend remains bearish, backed by low buying volume and consistent selling pressure. However, the appearance of a bullish divergence on the daily chart and the potential for a range-bound bounce on lower timeframes suggest that a nimble long trade could be worth exploring. Traders should remain cautious, use tight risk controls, and keep a close eye on broader market signals. While PI might not be gearing up for a major breakout yet, short-term opportunities are still present for those willing to act with discipline and precision.