Pi Price Aims At Reversal From $1.6 Despite Bearish Macro Cues
The post Pi Price Aims At Reversal From $1.6 Despite Bearish Macro Cues appeared on BitcoinEthereumNews.com.
Pi Network has experienced a significant decline, with the price pulling away from its all-time high (ATH) of $3.00. Despite the broader market downturn, investor sentiment remains optimistic, allowing PI to resist extreme losses. Now trading near $1.60, the altcoin is positioning for a potential reversal, aiming to regain lost ground. Pi Network Is Aiming For Recovery The Moving Average Convergence Divergence (MACD) indicator suggests a potential bullish crossover for Pi Coin. If the MACD line crosses above the signal line, it would indicate growing bullish momentum. A shift in the histogram bars from red to green would further confirm the possibility of a trend reversal. Investor support plays a key role in sustaining this momentum. If buying pressure increases, Pi Network’s price could solidify its uptrend, mitigating the risk of further downside. PI Coin MACD. Source: TradingView Despite signs of recovery, the Relative Strength Index (RSI) remains below the neutral 50.0 mark, indicating a lingering bearish sentiment. Until RSI crosses into bullish territory, Pi Network price upward movement may remain slow and uncertain. The broader market environment continues to pose challenges for altcoins. A strong push from investors could accelerate momentum, but the macro outlook remains cautious. If RSI remains suppressed, PI’s recovery may be gradual rather than immediate. PI Coin RSI. Source: TradingView PI Price Could See Gains Pi Coin is holding above $1.59, attempting to bounce back toward the $2.00 resistance. Breaking past this level is crucial for reversing recent losses. If PI manages to establish support above $2.00, it could signal renewed investor confidence. With support from technical indicators and buying momentum, securing $2.00 as support could open the path toward its ATH of $3.00. A successful breakout may lead to price discovery, allowing PI to set new highs. However, this depends on broader market sentiment…
Filed under: News - @ March 4, 2025 10:24 am