Pi Network's price continues to hover around a critical support level, raising interest in possible future movements.
Signals of Weak Bullish and Bearish Trends
Technical data indicates that the Directional Movement Index (DMI) is showing decreasing bearish momentum. The Average Directional Index (ADX) has dropped to 34, indicating trend weakness. The increase in the Positive Directional Index (+DI) to 20.89 also suggests growing bullish sentiment, while the Negative Directional Index (-DI) has fallen to 32.68, indicating easing bearish pressure.
Key Support and Resistance Levels
Pi Network's price is currently in a consolidation phase, ranging above the $0.601 level. If it drops below this level, further declines to $0.542 and $0.40 are possible. Conversely, breaking above resistance levels at $0.647 and $0.658 could initiate a bullish move towards $0.796.
Traders' Expectations and Future Movements
Traders should closely monitor support and resistance levels. Weakening bear pressure and increasing bullish momentum suggest a potential trend reversal, but the market's final direction remains uncertain.
Pi Network is at a critical juncture with mixed signals. Holding the $0.601 support will determine the next price movement, and investors should observe key levels closely.
