Pi Network Experiences Another Crash Following Momentary Surge - What's the Future Hold for PI?
Pi Network (PI) sees nearly 9% drop in the past week, trading below $0.60 today. This cryptocurrency has struggled, lingering below the Ichimoku Cloud, signaling a bearish market.
The RSI briefly climbed above 50 but has since dipped to 45, indicating a waning bullish momentum. The EMAs remain bearish, with PI hovering just above key support. If the support is breached, the next move could lead to a deeper correction.
Pi Network Faces Bearish Pressure Below the Ichimoku Cloud
Pi Network is currently trading below the Ichimoku Cloud, suggesting a bearish market structure overall. However, a potential shift may be developing, as the blue Tenkan-sen (conversion line) has recently crossed above the red Kijun-sen (base line). This crossover is an early bullish signal, but the future cloud remains red, indicating continued resistance ahead.
The Chikou Span (lagging line) is still below both the price candles and the cloud. A real trend reversal requires PI to break into and above the cloud, with the future cloud turning green.
Pi Network Momentum Slows as RSI Dips Below 50
Pi Network's current RSI sits at 45.41, easing off after a brief rally. This indicates a slowdown in momentum following a brief period of recovery. The quick reversal reflects uncertainty in the current price trend.
Pi Network Struggles Below Key Resistance Levels
As of early May, PI trades below key resistance levels, with price action fluctuating between $0.50–$0.66. The Ichimoku Cloud and RSI below 50, combined with April's 15% monthly decline, suggest lingering bearish pressure. However, the recent bounce from $0.50 support and increased buying volume indicate potential reversal momentum.
Near-Term Catalysts
- Resistance Breakout Scenario: A sustained move above $0.65—identified as the "Point of Control" for trading activity—could trigger a rally toward $0.85–$1.55.
- Bearish Risks: Failure to hold $0.60 support risks a retest of $0.58–$0.60, especially if selling pressure intensifies amid neutral RSI and Ichimoku Cloud resistance.
- Event-Driven Volatility: The Consensus 2025 event (May) and anticipated updates from Pi's founder could serve as bullish catalysts, with some experts projecting a speculative surge to $5.
May 2025 Price Projections
- Bull Case: $0.73–$0.76 by month-end, contingent on reclaiming $0.66.
- Bear Case: $0.58–$0.60 if resistance holds.
While current technicals favor consolidation or bearish pressure below $0.65, the combination of strong support at $0.50, rising volume, and event-driven speculation introduces credible reversal potential. Traders await a decisive breakout above $0.65–$0.66 to confirm trend reversal.
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Pi Network (PI) faces bearish pressure as it trades below the Ichimoku Cloud, a significant resistance level. This cryptocurrency's recovery momentum has slowed on the back of the RSI dipping below 50 and the EMAs remaining bearish. Despite the bearish signs, a potential shift could be developing with the Tenkan-sen crossing above the Kijun-sen, indicating an early bullish signal.
In terms of resistance, breaking above $0.65 could initiate a rally toward $0.85–$1.55, while failure to hold $0.60 support may lead to a retest of $0.58–$0.60. Event-driven catalysts like the Consensus 2025 event and updates from Pi's founder could potentialy stir a speculative surge to $5.
By month-end, the bullish case projects Pi Network to trade between $0.73 and $0.76, while the bearish case predicts $0.58–$0.60. However, strong support at $0.50, rising volume, and event-driven speculation may introduce credible reversal potential.
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