Pi Network found a bottom after a sharp correction – will a price reversal follow?
PI Price Predictions to Watch This Week
Key Support levels: $0.67
Key Resistance levels: $0.88, $1
1. Price Is in Recovery
After a 65% drop from its recent high at $1.7, PI managed to find a bottom around $0.67, where buyers returned to the scene again. This bounce managed to take the asset to $0.8 and may even test the resistance at $0.88 before sellers show up again.
2. Momentum Shifting Bullish Again
In the past few days, PI experienced a noticeable pick-up in buy pressure, which allowed the price to expand and increase by over 20% since its recent bottom. This is encouraging, but bulls will have to break the key resistance at $0.88 if they want to keep up this momentum. If successful, then PI has a good shot at hitting $1 again.
3. Volume Crashed, but is Recovering
During the rally in early May, the buy volume exploded and managed to take PI to $1.7. Since then, the volume crashed and took the price under $1. Nevertheless, in the past few days, buyers returned which allowed the volume to make a higher high. This is encouraging, but more buyers will be needed to sustain a recovery.
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