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Pi Network’s PI token seems to have entered a consolidation phase, as the price action has leveled off. Since April 16, the token has faced resistance at $0.66 while finding support at $0.60, creating a narrow trading range.  This signals a period of indecision in the market, with neither PI buyers nor sellers taking full control. PI’s Price Action in Limbo Readings from PI’s Aroon indicator confirm the recent stagnation in its price. As of this writing, the token’s Aroon Up Line (yellow) is at 0%, while its Aroon Down Line (blue) is in decline at 14.29%.  PI Aroon Indicator. Source: TradingView The Aroon indicator identifies market trends and determines whether a trend is strong or weak. A 0% reading on the Aroon Up Line suggests that PI has not reached a new high recently, signaling a lack of upward momentum. Meanwhile, the Aroon Down Line’s decline to 14.29% indicates that the token has not been experiencing significant downward pressure either.  This trend suggests a balanced market, where neither bulls nor bears are taking the lead. The setup confirms that PI is in a consolidation phase, with a breakout in either direction dependent on shifts in market sentiment. Further, the steady decline in PI’s Average True Range (ATR) since early March confirms the decrease in its market volatility and the shift towards consolidation. At press time, this indicator stands at 0.07. PI Average True Range. Source: TradingView The ATR  indicator measures market volatility by calculating the average range between the high and low prices over a set period. When it falls like this, it indicates a decrease in market volatility, suggesting that price movements are becoming less erratic.  This often signals a period of consolidation or indecision in the market, as traders await a potential breakout or shift in direction.…

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Filed under: News - @ April 28, 2025 7:26 pm