6% Drop in Pi Network: Are Technical Indicators Signaling a Reversal?

Pi Network (PI) experienced a 6% loss on a weekly basis, while technical analysis indicators signal a potential directional change in the market. Particularly, the Directional Movement Index (DMI) and Chaikin Money Flow (CMF) indicate that selling pressure is weakening and slight buying interest continues.

Consolidation at a Critical Level: Seeking Balance Around $0.601

According to COINOTAG's analysis, it is crucial that PI consolidates around the support line at $0.601. Price movements in this region could play a critical role in determining PI's short-term direction.

What Do the Technical Data Say? Bear Power is Weakening, Buyers are Quietly Active

According to directional indicators, the effect of the downtrend in PI has begun to diminish. The Average Directional Index (ADX) has declined from 44.59 to 34, indicating a weakening of the trend's strength. Since ADX remains above 30, the trend is considered to be ongoing, but the loss of momentum is notable.

While the positive directional indicator (+DI) rose from 4 to 20.89, the negative directional indicator (-DI) fell from 70.57 to 32.68. This striking change indicates that bears are losing dominance in the market and buying pressure is beginning to emerge. This could also be a potential balance or reversal signal in the PI price.

Chaikin Money Flow (CMF): Buying Pressure Continues, But Limited

CMF data also confirms that buying interest continues. The indicator, currently at 0.07, has pulled back from its previous peak of 0.19, but its remaining in positive territory indicates that capital inflows are ongoing. This situation suggests that buyers are still active in the market, but there is no aggressive accumulation process.

In case the CMF falls below zero, attention should be paid to weak demand and the potential for more serious downside risks.

Critical Turning Point: Will the $0.601 Support Hold?

The attempt to hold at $0.601, especially when evaluated together with the Exponential Moving Averages (EMA) of the Pi Network, indicates that it is in the midst of a consolidation process. The market is trying to recover after the drop due to geopolitical developments.

If this level breaks down, the support levels of 0.542 and 0.40 dollars may become targets respectively. On the other hand, if the current support is maintained and the price moves upward, there may be a potential rise to $0.796 in the event of breaking the resistance levels of 0.647 and 0.658 dollars. The current EMA structure indicates a neutral outlook; a strong price breakout is expected for the direction to become clear.

Note to Investors: Cautious Waiting Should Continue

While market uncertainty continues, investors need to closely monitor support and resistance levels. Indicators like DMI and CMF reveal that selling pressure is decreasing, but the market is still cautious.

In these conditions, it may be strategic to wait for a clear directional signal before opening new positions. Especially, rises that occur above resistance levels or pullbacks that dip below support can create a foundation for healthier trading decisions.


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