🟡 PI Network Stalls Near $0.60 After Sharp Drop – Is the Bounce Losing Steam?
📆 Date: April 6, 2025
🕒 Timeframe: 4H (4-Hour Chart)
🔍 Source: TradingView | PI/USD (OKX)
📉 PI is currently trading at $0.6050, slightly up +0.22% on the session. After a brutal downtrend, it managed a bounce but is now consolidating below $0.65 with momentum fading.
🔹 MACD Analysis:
MACD Line: -0.0084
Signal Line: -0.0471
Histogram: Green
The MACD has crossed bullish, with the MACD line now above the signal, and histogram flipping green. However, the bullish momentum is still fragile, with low volume and weak continuation.
🔹 RSI (Relative Strength Index):
RSI: 39.71
The RSI bounced from deeply oversold levels, but now hovers below 40, indicating that bears still have control. A failure to reclaim 50 could signal another leg down.
🔹 Key Resistance: $0.70 – $0.80
🔹 Major Resistance Zone: $1.00
🔹 Key Support Zone: $0.50 – If broken, the next target could be around $0.30–$0.35
📌 Market Snapshot:
PI Network saw a short-term recovery, but the bounce is showing signs of exhaustion. Both RSI and MACD suggest a temporary pause rather than a full reversal.
Unless it clears $0.70–$0.80 convincingly, this could just be a dead cat bounce.
🧠 Pro Tip from CryptoPulsee:
“Don’t confuse a bounce with a reversal. Sideways MACD and RSI below 40 usually mean the bears are just taking a nap.”