The post PI Price Rally Inches Up 7%, Yet Bulls Struggle to Take Control appeared on BitcoinEthereumNews.com.

PI’s price has climbed 7% over the last seven days, signaling modest upward momentum. It currently trades at $0.65.  However, technical readings reveal that the rally largely lacks conviction from bullish traders, suggesting the price growth is more reflective of overall market growth than demand for PI. PI Climbs, But Momentum Stalls A key indicator supporting this outlook is the Relative Strength Index (RSI), which has remained largely flat despite the price uptick. This indicates a balance between PI’s buying and selling pressure, rather than a surge in bullish sentiment that typically accompanies sustainable rallies. PI RSI. Source: TradingView The RSI indicator measures an asset’s overbought and oversold market conditions. It ranges between 0 and 100. Values above 70 suggest that the asset is overbought and due for a price decline, while values under 30 indicate that the asset is oversold and may witness a rebound. When it is flat like this, there is a balance between buying and selling pressure, with no clear momentum in either direction. This signals market indecision or consolidation, rather than a strong trend, despite PI’s price hike.  Further, PI’s Super Trend indicator, which continues to act as dynamic resistance above the token’s price, adds to the cautious outlook. This is currently at $0.85 The indicator helps traders identify the market’s direction by placing a line above or below the price chart based on the asset’s volatility.  PI Super Trend Indicator. Source: TradingView As with PI, when an asset’s price trades below the Super Trend line, it signals a bearish trend, indicating that the market is in a downtrend and selling pressure is dominant. As PI struggles to break above this level, the trend line reinforces bearish sentiment and suggests pushing the asset higher in the short term will be difficult. PI Risks Drop to…

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Filed under: News - @ April 24, 2025 5:38 pm