Pi Network Maintains Strength Above $0.20
Pi Network (PI) continues to hold firm above the critical $0.20 psychological level, signaling resilience amid broader market uncertainty. The cryptocurrency’s consolidation within a narrow range indicates ongoing accumulation as investors prepare for a possible breakout in the near term.
W-Pattern Formation Suggests Bullish Reversal
Technical charts reveal a developing W-shaped pattern, often associated with market reversals. The formation points to strengthening demand as Pi stabilizes around its key support at $0.1996. A confirmed breakout could propel prices toward the $0.2295 resistance zone and beyond.
Mixed On-Chain Data Adds Complexity
Recent PiScan data shows contrasting signals between centralized exchanges (CEXs) and Pi Foundation wallets. CEXs recorded an outflow of 1.23 million PI tokens, suggesting accumulation by investors. However, the Foundation’s secondary wallet also saw outflows of 1.28 million tokens, creating near-neutral on-chain sentiment.
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Technical Indicators Turn Bullish
Momentum indicators support the bullish thesis. The Moving Average Convergence Divergence (MACD) line has crossed above its signal line, indicating rising buying pressure. Meanwhile, the Relative Strength Index (RSI) has risen from oversold territory, showing that bearish control is weakening.
Resistance and Support Levels to Monitor
Traders are closely watching $0.2295 as the immediate resistance level. A break above this point would confirm the W-pattern breakout, targeting $0.2755 as the next major pivot. On the downside, maintaining support above $0.1996 is crucial, as a failure could lead to a retest of $0.1731.
Exchange Activity Reflects Retail Confidence
KYB-verified exchanges have reported rising demand for PI tokens, reinforcing confidence in Pi’s long-term growth. Investors are increasingly transferring tokens off exchanges, signaling faith in the network’s stability and future ecosystem expansion.
Broader Market Sentiment Improves
The crypto market’s gradual recovery has provided additional tailwinds for Pi Network. As investors regain risk appetite, mid-cap tokens like Pi are benefiting from renewed speculative and strategic capital inflows, positioning them well for a strong Q4.
Outlook: Bullish Momentum Building Up
With solid support, favorable technical indicators, and rising retail interest, Pi Network appears poised for continued upside. If it successfully clears the $0.2295 barrier, the token could confirm a medium-term bullish cycle and potentially outperform peers in the coming months.
