#pi 🚨🚨Pi Network hints at trend reversal after pullback, but major obstacles could keep price below $1

At the time of writing, PI Coin (PI) is trading at $0.7796, up 6% over the last 24 hours. Still, it remains down 38% over the past week and more than 70% below its all-time high of $2.99, which was recorded in February. Trading volume also has risen slightly, with over $221 million in the past day, a 0.8% increase that suggests renewed market interest.

Looking at the daily chart, technical indicators show mixed signals. The relative strength index is near 51, which points to a neutral trend. Meanwhile, momentum and moving average convergence divergence indicators show the persistence of some selling pressure.

While the 20- and 30-day moving averages have flipped to buy, indicating that some buying strength is returning, short-term moving averages, like the 10-day EMA and SMA, are still flashing sell signals. Support seems to be forming around $0.77, but the token will need to break above $0.84 to confirm a stronger recovery.

PI may target the $1 mark once more if it can maintain support above $0.77 and overcome resistance at $0.84. But if it doesn’t take off, prices might return to the $0.70 range. The price might find it difficult to increase much more unless important problems like token accessibility, exchange listings, and ecosystem growth are addressed.