Pi Network (PI) Price Analysis
Pi Price Overview
Pi Network (PI) is currently trading around $1.45, showing a roughly 13% gain in the last 24 hours. On the 30-minute timeframe, PI has been pushing higher from its short-term support near $1.20, reflecting renewed buying interest.
Key Technical Levels
• Resistance: The next major resistance lies between $1.60 and $1.68. A solid break above this zone could pave the way for a move towards $2.00–$2.10.
• Support: Immediate support sits at $1.28–$1.20. If PI dips below this range, it may revisit the $1.10–$1.00 area, which could be an attractive re-entry point for those looking to accumulate.
Technical Indicators
• MACD: On the 30-minute chart, the MACD appears bullish, with the MACD line hovering above the signal line. Keep an eye out for any crossover, as that can signal a shift in momentum.
• Fibonacci Levels: The current price is near the 61.8% Fibonacci retracement from the recent swing high, making it a pivotal level. A strong close above it would bolster the bullish outlook.
• Volume: There has been an uptick in green volume bars, suggesting increasing buying pressure. However, a drop in volume could signal waning momentum and foreshadow a possible pullback.
Wider Market Context
The overall crypto market has shown modest strength, which can influence PI’s price direction. Monitoring major cryptocurrencies (like Bitcoin and Ethereum) alongside PI’s volume trends will help confirm whether the bullish sentiment can be sustained.
Daily Recommendations
1. Watch for a break above $1.60–$1.68 to potentially trigger a run towards $2.00–$2.10.
2. Monitor volume carefully – high volume typically supports further upside, whereas declining volume might hint at a consolidation or pullback.
3. Keep tabs on MACD crossovers for short-term trend reversals.
4. Look for pullbacks into the $1.28–$1.20 zone if you’re considering re-entries.
NOTE: My analysis is for informational purposes only and does not constitute financial advice. Always conduct your own research before making investment decisions.
Pi Network (PI) is currently trading around $1.45, showing a roughly 13% gain in the last 24 hours. On the 30-minute timeframe, PI has been pushing higher from its short-term support near $1.20, reflecting renewed buying interest.
Key Technical Levels
• Resistance: The next major resistance lies between $1.60 and $1.68. A solid break above this zone could pave the way for a move towards $2.00–$2.10.
• Support: Immediate support sits at $1.28–$1.20. If PI dips below this range, it may revisit the $1.10–$1.00 area, which could be an attractive re-entry point for those looking to accumulate.
Technical Indicators
• MACD: On the 30-minute chart, the MACD appears bullish, with the MACD line hovering above the signal line. Keep an eye out for any crossover, as that can signal a shift in momentum.
• Fibonacci Levels: The current price is near the 61.8% Fibonacci retracement from the recent swing high, making it a pivotal level. A strong close above it would bolster the bullish outlook.
• Volume: There has been an uptick in green volume bars, suggesting increasing buying pressure. However, a drop in volume could signal waning momentum and foreshadow a possible pullback.
Wider Market Context
The overall crypto market has shown modest strength, which can influence PI’s price direction. Monitoring major cryptocurrencies (like Bitcoin and Ethereum) alongside PI’s volume trends will help confirm whether the bullish sentiment can be sustained.
Daily Recommendations
1. Watch for a break above $1.60–$1.68 to potentially trigger a run towards $2.00–$2.10.
2. Monitor volume carefully – high volume typically supports further upside, whereas declining volume might hint at a consolidation or pullback.
3. Keep tabs on MACD crossovers for short-term trend reversals.
4. Look for pullbacks into the $1.28–$1.20 zone if you’re considering re-entries.
NOTE: My analysis is for informational purposes only and does not constitute financial advice. Always conduct your own research before making investment decisions.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.