Technical Indicators Hint at Recovery for Struggling Altcoin
After nearly two weeks of stagnant price action, the Pi Network cryptocurrency is showing early signs of a bullish shift. Market analysts are pointing to encouraging technical indicators that may suggest the digital asset is preparing for an upward move.
The Moving Average Convergence Divergence (MACD), a key momentum indicator, is on the verge of a bullish crossover—a signal that historically precedes price recoveries. If confirmed, this development could renew investor optimism and potentially reverse the downward pressure seen in recent weeks.
Currently trading at $0.64, Pi Network has managed to hold above a critical support level of $0.61, a floor it has respected despite broader market hesitation.
Investor Sentiment at a Turning Point
The latest data shows that while caution still lingers among investors, bearish sentiment may be losing steam. A softening downtrend and increasing signs of stabilization have sparked hopes of a shift in direction for the altcoin.
The Chaikin Money Flow (CMF) indicator—used to measure capital movement—recently dipped into negative territory, reflecting net outflows. However, analysts believe this could be temporary. “If those outflows ease and we begin to see increased buyer interest, the Pi Network could be poised for a meaningful rebound,” said crypto strategist Ana Delgado.
Resistance Looms at $0.71, but Momentum Builds
Market observers note that the next major resistance level lies at $0.71. A break above this threshold would not only mark a short-term victory for bulls but could also serve as the foundation for a more sustained rally.
“If Pi can flip $0.71 from resistance into support, it would be a strong technical confirmation of a bullish trend reversal,” said Delgado. “This would also likely improve market confidence and attract new inflows.”
Cautious Optimism as Recovery Prospects Improve
While the outlook is not without risks—particularly if outflows persist—Pi Network appears to be entering a more favorable technical phase. Analysts stress that maintaining support above $0.61 will be key in determining whether the recovery takes hold or stalls.
In a crypto market still grappling with global uncertainty and varying sentiment, Pi Network’s stability offers a rare pocket of hope for long-term holders.
Outlook:
With early signs of momentum shifting and support levels holding firm, Pi Network may be on the cusp of reversing its recent stagnation. A confirmed MACD crossover and renewed investor interest could be the spark needed to reignite its upward path.
