The post Can it break above the 50-day MA? appeared on BitcoinEthereumNews.com.

Pi Network has struggled to keep up with the recent crypto market recovery, down about 10% over the past week. At $0.5832, the token is currently trading roughly 80% lower than its all-time high of $2.99. The recent trading volume, however, paints a slightly different picture. Pi Network’s (PI) trading volume rose by nearly 35% over the last day, surpassing $128 million. Though the technical picture is still uncertain, this suggests that traders are once again paying attention, which could be a sign of a more significant move. The biggest hurdle right now is the 50-day simple moving average, which sits around $0.82. PI is still below that line, and many other short-term moving averages like the 10-day and 20-day, also show a bearish trend. Pi Network price analysis. Credit: crypto.news The relative strength is at 38.7, which means the token is leaning toward oversold, but not quite there. Still, a few indicators like the moving average convergence/divergence suggest buyers may be slowly stepping in. Bollinger Bands show PI is near the lower band, suggesting it’s trading in the lower volatility range and may be oversold. A bounce from here could take the price back toward the middle band near $0.75, or higher. If PI breaks above the 50-day SMA with strong volume, it could push toward $0.85–$0.90. A rally past $1.00 would flip sentiment, especially if driven by major news. If prices stay under key moving averages and selling continues, PI could retest support near $0.55 or even fall to $0.45, close to its historical low. One of the biggest risks for Pi Network is token dilution. In April, 21.4 million new tokens were unlocked, worth about $12.3 million. An estimated 131 million tokens are expected to be unlocked every month for the next 12 months. Unless demand rises…

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Filed under: News - @ April 30, 2025 5:23 am