Pi Network’s price is this week a a mixed bag, losing something close to 6% while commonly considered technicals give a conflicting picture. Is the tide turning? The DMI indicates that bearish energy is on the wane and that the trend may very well reverse. But now, the CMF has said that positive buying pressure has been but trickled in. Buckle in and hold on; it will be a guessing game as to where Pi goes next.
Price teeters on a knife edge. It will give a narrow window of consolidation as EMA lines. But the cryptocurrency hovers precariously above its psychological support of $0.601. Will it fall into price depths or somehow remain respiring and jump past ominous resistance? The next surge or tumble will have the answer.
Pi Network DMI Signals Fading Bearish Momentum
Bearish momentum can still be accounted for regarding prices of Pi Network. The DMI indicator shows the ADX dropping from 44.59 to just 34 in one day, suggesting weakening trend strength.
It is portraying a glimmer of weakened signals for the ADX, being the trend strength barometer. The momentum is losing altitude, thus signaling the potentially short-lived rally, after a dizzying upside climb from 16.89 just three days before. Remember, ADX measures trend strength and not direction.
As long as the ADX pushes above 30, Pi’s upward moves are yet counted as trends, with perhaps the latter soon dying out. Stubborn readings south of 20 are like whispers of inertia; sudden runs past 25 are screams of growing momentum. Pi’s upward climb, while certainly not flatlining, is gradually losing steam.
PI DMI. Source: TradingView.
Looking at the directional indicators, +DI has climbed to 20.89 from just 4 two days ago, signaling growing bullish pressure.
Meanwhile, -DI has dropped significantly to 32.68 after peaking at 70.57 three days ago, showing that bearish momentum is fading.
“The fighting on possible turning points. If buyers (+DI) stand ground and sellers (-DI) retreat, Pi could bounce back from its slump or at least breathe after a selling frenzy.”
PI CMF Shows Light Buying Pressure After Recent Spike
The Chaikin Money Flow (CMF) for Pi Network is sending conflicting signals for now; two days back, it had touched its highest value of 0.19, since then, dropping to 0.07. This charting must’ve alerted many with the sudden fall. If one takes a longer-term approach, however, the CMF still remained above -0.05 three days ago, implying buying pressures are still present. So is this the backing off for now, or is it going to invert into a trend reversal?
Is money flowing into or away from an asset? This question is answered by the Chaikin Money Flow (CMF) indicator when it tracks the cash current by considering price and volume. Just think of it as a financial tide: above the zero level, buyers dominate; below, sellers dominate.
Readings above 0.10 or below -0.10 are typically seen as stronger signals of accumulation or distribution.
PI CMF. Source: TradingView.
PI’s current CMF level at 0.07 suggests mild but positive buying pressure.
Buying frenzy may have come to a halt, but capital continued to pulse through the asset – a quieter rhythm than the frantic beat of two days ago.
“A CMF staying strictly above the number zero keeps the price afloat, creating an image of price stability or a slow climb back. But the plummet from zero into negative territory could send the bears into charging mode, indicating weaker demand and impending price starvation.”
Breakout or Breakdown? PI Trades Near Crucial Levels
After a tense geopolitical tremor, initiated by the Israel-Iran escalation, Pi Network catches its breath. EMA lines suggest consolidation–a digital deep breath before the next surge. Will it be up, or down? With bated breath, waits the market.
The price of Pi hangs precariously over the critical $0.601 lifeline. Should it breach this particular price, it may soon tumble all the way down to $0.542. Should the bears take over, the next down drop will be very unsettling, as Pi may plunge toward $0.40.
This structure reflects uncertainty, with no clear bullish or bearish control at the moment.
PI Price Analysis. Source: TradingView.
“If PI does break the $0.647 and $0.658 ceilings that are presently in place, then a bullish rush is unchanged; it indicates the probable beginning of an exciting ascent.”
A successful breakout above these zones might open the door for a move toward $0.796.
The EMA setup supports a neutral stance for now, awaiting a decisive move in either direction.
Thanks for reading Pi Network Price Holds Near Key Support – Further Decline or Recovery?
