$BTC suffers from Lack of Control

The price of PI has increased by 7% over the last seven days, signaling a modest upward momentum. It is currently trading at $0.65.

However, technical indicators show that the rally largely lacks confidence from bullish traders, suggesting that the price increase reflects more of the overall market rise than demand for PI.

🔸 PI is Rising, But Momentum is Stalling

A key indicator supporting this view is the Relative Strength Index (RSI), which has remained virtually unchanged despite the price increase. This indicates a balance between buying and selling pressure on PI, rather than a surge in bullish sentiment that typically accompanies sustainable rallies.

The RSI indicator measures the oversold and overbought conditions of an asset. It ranges from 0 to 100. Values above 70 indicate that the asset is overbought and may be subject to a price decline, while values below 30 indicate that the asset is oversold and may experience a recovery.

When it is at a level, it signals a balance between buying and selling pressure, with no clear momentum in either direction.