Pi Network’s price has stabilized around the $0.21 support level as volume begins to rise, hinting at renewed buying pressure. This could mark the beginning of a potential bottom.
Pi Network (PI) is showing early signs of stabilization after weeks of consistent selling pressure. The token has found a foothold around $0.21, a crucial technical level supported by multiple confluences. The combination of the 0.618 Fibonacci retracement level, the value area low, and a rise in volume suggests a potential bottom formation may be underway.
Pi Network Price Key Technical Points
- •Support Level: $0.21 region aligns with both the value area low and the 0.618 Fibonacci retracement.
- •Volume Increase: Bullish volume influxes signal growing demand and potential accumulation.
- •Next Resistance: $0.25 serves as the immediate upside target, while $0.19 remains key downside support.
From a technical standpoint, Pi Network’s recent behavior around the $0.21 mark highlights a classic setup for a potential reversal.
The value area low represents a key region where previous trading activity was most concentrated, and the addition of the 0.618 Fibonacci level provides a strong confluence for support.
The emergence of bullish volume around this zone suggests that buyers are beginning to step back into the market after a prolonged decline.
The wick that briefly dipped below $0.19 but was swiftly repurchased demonstrates demand and possible seller exhaustion. Such sharp recoveries from oversold zones often serve as the first signs of a base forming. As long as Pi Network’s daily candles continue to close above $0.21, it reinforces the idea that market participants are defending this level.
If buying momentum continues, a rally toward $0.25, the next high-timeframe resistance, becomes increasingly likely. However, this move must be supported by consistent volume growth to confirm genuine demand rather than a short-lived bounce.
Conversely, losing the $0.21 support would invalidate the bullish setup and open the door for another retest of the $0.19 level, which remains an essential secondary support zone.
What to Expect in the Coming Price Action
If bullish volume persists and Pi Network holds above $0.21, a short-term reversal could materialize toward $0.25. However, a failure to maintain this support risks another leg down to $0.19 before any sustainable recovery can take shape.