Pi Crypto Holds Above Support As Bulls Target Recovery
Key Insights:
- Pi crypto ($PI) token maintained a stability range around $0.67 following an upward breach of its 21 EMA level.
- Sales at cryptocurrency exchanges are meeting the market demand to strengthen $0.67 as an ongoing support level.
- Growing market volume indicates investors are turning their attention toward $PI, which means rising market potential.
Pi Network’s $PI token holds steady at $0.67 after a strong breakout. It has also moved past the 21-day Exponential Moving Average (EMA), signaling bullish momentum. Pi crypto price remains stationary near this particular range.
The 21 EMA acted as an opposition force, restricting price growth and blocking extended northward advances. The price movement of $PI has formed an upward trend, as seen in the 1-day charts.
When the token reached its local minimum price, it crossed above the 21 EMA and started finding support at $0.67. This demonstrated that the bulls have been buying into the selling pressure. This support development at the $0.67 level shows indicators of equilibrium.
Pi crypto price Shows Support Around $0.67
The 4-hour charts indicate that $PI has established $0.67 as a solid support level. Market reactions at this price suggest strong buying interest and stability.
Pi crypto demonstrated multiple bounces against this level throughout the previous week. This proved its significance for the short-term price structure.
Because of buying pressure in this ranging phase, the price has formed progressively stronger support levels. It indicates that it will likely maintain an upward trend.
Since April, $PI has displayed a consistent upward trend within its current range. This movement signals potential bullish momentum in the short term.
Price movements indicate that the token price may rise towards new targets after breaking through upper resistance areas. The market trend toward declines in April failed to deter Pi coin, as trading activity demonstrated remarkable growth.
Recent CoinMarketCap data revealed that $PI’s 24-hour trading volume has surpassed $150 million. At the same time, its liquidity has surged by 90%, reflecting vigorous market activity.
The rising level of market activity suggests that buyers and sellers are joining forces to spur the current consolidation process.
Pi Network’s Long-Term Potential: Is $100 Still Possible?
Recent chart formations confirm that $PI has maintained consolidation above the $0.67 support level. This stability over the past several days reinforces its strong position in the market.
The support costs $0.67, and the resistance zone is near $0.672. Pi crypto price is currently trading in range-bound territory. To that effect, there is a balance between buying and selling pressures since neither side fully wins nor gains a definitive upper hand.
The $0.67 level could now serve as a minor support level. The price has repeatedly tested it in the time that has occurred in recent sessions.
The stochastic RSI was currently at 84.77, which is approaching overbought territory. This suggested that the price could be due for a pullback before rising any higher.
As a result, the market hints at a bullish trend in the near term. However, despite this, charts still show that a correction or brief consolidation is necessary before the price starts moving up.
As per the short-term resistance levels in the consolidation channel, $PI has been rejected in the $0.672 area. This is where a futile attempt was made to transcend the $0.6830 level.
It will become short-term support if the Pi crypto price exceeds this resistance and sustains momentum. We could see a pump towards the following resistance levels at $0.72 and $0.74.
The charts generally indicate that the $PI token consolidates with expected support at $0.67 and has a slightly bullish structure.
If Pi coin continues to hold above the $0.67 support level, its current consolidation suggests potential for a breakout. This stability could pave the way for a notable price movement in the near term.
