Pi Token Recovers 20% but Faces $0.90 Resistance
Key Takeaways
- The Pi Token (PI) is showing short-term signs of recovery after a sharp decline.
- Over the past four days, the price has increased by 20%, accompanied by a moderate rise in trading volume.
- A sustained breakout above the USD 0.90 mark depends on increased demand.
- Bitcoin (BTC) could play a supportive role as a sentiment indicator.
Current Price Development of Pi Token
The Pi Token has seen a modest recovery in recent days. After falling below key technical levels, the price has climbed back above USD 0.80. In total, PI gained 20% over a four-day period. Despite this increase, trading volume remains below the levels seen during previous rallies.
Data from Coinalyze shows that open interest – the total volume of open futures contracts – rose by 17%, while the price increased by 14% over the past 24 hours. This suggests a cautious return of speculative buyers. However, the funding rate is only slightly positive, indicating a still-reserved market sentiment.
Technical Analysis: Resistance at USD 0.90
On the daily chart (1D), the current price is below the 78.6% Fibonacci retracement level of the previous upward movement to USD 1.60. While the short-term trend shows a bullish structure, momentum is limited. The MACD (Moving Average Convergence Divergence) is above the zero line, but the histogram shows declining momentum – a sign of weakening buying power.
In addition, the support at USD 0.80 was not held consistently but has since been reclaimed. The CMF (Chaikin Money Flow) has been above +0.05 for ten days – an indication of capital inflows. The A/D line (Accumulation/Distribution) is also rising, signalling increased buying activity.
4-Hour Chart: Key Zone at USD 0.90
In the short-term 4-hour timeframe, a local resistance is forming at USD 0.90. This zone acts as a so-called “bearish order block” – an area where sell orders were previously concentrated. Indicators present a mixed picture here: neither the CMF nor the A/D line point to clear buying dominance. The MACD has also not yet provided a bullish signal above the zero line.
This makes it clear: without a significant increase in demand, PI is likely to struggle to break through the USD 0.90 mark sustainably. However, if a breakout with increased buying momentum occurs, it could present a short-term entry opportunity.
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Impact of Bitcoin on Market Development
Bitcoin remains a key factor in overall market development. At present, there are many signs that BTC is on its way to a new all-time high. Such a scenario could also support altcoins like PI, as positive market sentiment often spills over to smaller tokens. Nonetheless, without concrete demand for PI, a price increase remains speculative.
Our Assessment
The Pi Token is showing initial signs of stabilization, but the resistance zone at USD 0.90 remains a hurdle. Technical indicators provide mixed signals, particularly in the short term. A sustained breakout is only realistic with rising demand. Bitcoin could play a supportive role as a sentiment barometer. For traders, closely monitoring volume and price action around the USD 0.90 level is advisable.
Sources
- Coinalyze
- TradingView
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