Pi Network (PI) enters May with mixed technical signals. Momentum indicators point to a strong bearish trend, while money flow suggests potential accumulation. The ADX rose above 50, signaling a powerful bearish trend.
At the same time, the Chaikin Money Flow (CMF) has turned positive for the first time in weeks, suggesting early signs of renewed buying interest. However, with short-term EMAs still below long-term ones, PI must hold key support at $0.547 to avoid deeper losses.
Pi Network enters a sharp decline as ADX spikes above 50.
The DMI (Directional Movement Index) chart for Pi Network reveals a significant shift in trend strength, with the ADX (Average Directional Index) rising to 56.72 from just 10.48 three days ago.
The ADX measures the strength of a trend regardless of its direction, with readings above 25 generally indicating a strong trend.
A reading above 50, as seen now, reflects a very strong trend in play—one that traders often view as dominant and persistent in the short term.
PI DMI. Source: TradingView.
At the same time, the breakdown of the directional indicators suggests that the prevailing trend is bearish.
The +DI, which measures upward movement, sharply fell from 15.88 to 4.61, while the -DI, which tracks downward movement, significantly rose from 23 to 45.
This growing divergence between the +DI and -DI reinforces the view that Pi Network is in a strong and accelerating bearish trend. Unless buying pressure returns soon, technical indicators suggest that further declines may be ahead.
PI CMF reaches its highest level since mid-April.
The Chaikin Money Flow (CMF) of Pi Network rose to 0.06, up from -0.08 just a day ago, marking its highest level since April 14.
The CMF is a volume-based indicator that measures the flow of money into or out of an asset over a specified period. It ranges from -1 to +1, with values above 0 indicating buying pressure (accumulation) and values below 0 signaling selling pressure (distribution).
Sustained readings in positive territory often suggest that market participants are starting to accumulate the asset.
PI CMF. Source: TradingView.
With PI's CMF now at 0.06, this shift signals a potential change in sentiment, showing that more capital is flowing into the token after a period of outflows.
Although the level is still relatively low, the movement into positive territory and its multi-week peak may suggest that bearish momentum is weakening.
If this trend continues and is confirmed by stronger price action or volume, it may increase the likelihood of a short-term recovery or stabilization in the price of Pi.
However, further confirmation will be needed before identifying a clear bullish trend.
Pi Network faces a key support test as the EMA structure remains bearish.
Pi Network is currently in a bearish technical setup, with its short-term Exponential Moving Averages (EMAs) below the long-term EMAs—a structure that typically signals ongoing downward momentum.
The token has fallen more than 12% in the last seven days, reflecting increased selling pressure. If the correction continues, PI may soon test immediate support at the $0.547 level.
A break below this could pave the way for a deeper drop towards the $0.40 range.
PI Price Analysis. Source: TradingView.
However, if the trend reverses and buyers regain control, the price of PI may retest the resistance level at $0.665.
A breakout above this limit could lead to further gains, potentially pushing the price towards the next key resistance at $0.789.
The current alignment of the EMAs still favors sellers, but a change in momentum—confirmed by volume and price action—could alter the short-term outlook.
The article 'Pi Network Forecast: Are Pioneers Buying PI Again?' was first seen on BeInCrypto Brazil.