Altcoins News
By Evie Vavasseur
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Pi Network’s native cryptocurrency, PI, has found itself in a tough spot, trading within a narrow range and exhibiting conflicting market signals.
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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.
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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.
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The On-Balance Volume (OBV) indicator also reinforces the bearish narrative. Over the past month, OBV has steadily declined, highlighting continued selling pressure.
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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.
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The MFI reading on the four-hour chart sits around 47, which reflects a neutral market—neither overbought nor oversold.
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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.
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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…
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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.
The Currency Analytics
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