PI network prices are hanging in threads. Tokens currently trading above $0.44 are at risk of dropping 10% into the $0.40 zone.
However, while most indicators flash red, one important signal suggests that the Bulls may still be watching. If Pi Price manages to regain $0.47, this bearish setup could be completely disabled.
Super trends flash red
A super trend indicator, often used to find market direction, has been sitting on PI’s daily candle since mid-June. Simply put, when a super trend appears above the price action and is covered in red, it shows a strong downtrend. Think of it as a warning light to tell traders to “Don’t buy yet.”
This red zone continues to expand downward, suggesting that sellers continue to have strong control.
At the time of writing, the resistance of the supertrend is above $0.5450, far exceeding the current price. The signal remains bearish unless the PI closes above its threshold.
The only hope is the release of RSI bullishness.
Now for twisting. Despite the trend in bearish prices, the relative strength index (RSI) shows signs of hidden bullish divergence.
PI prices have achieved a low low between late June and July 15th, but momentum tracker RSI has formed a higher low. This mismatch suggests that the purchase pressure is quietly built beneath the surface, although the price appears weak.
Relative Strength Index (RSI) measures momentum by tracking how fast and how much the coin’s price has changed. For now, the PI is approaching 36 levels of RSI, indicating that it could soon enter sold territory. If market sentiment remains bullish, the price of coins/tokens often rises after entering the sold zone.
The exchange flow is not encouraging yet
The momentum may be improving, but exchange influx is a different story. According to Piscan data, 5.7 million PIs have been placed in CEX wallets over the past 24 hours. This suggests that sales pressure is still active as traders move their assets to exchanges and potentially sell them.
PI price analysis implies a 10% DIP
From a price structure perspective, Pi Coin lost its 0.23 Fibonacci level at $0.47 and is now integrating the $0.44 mark. The next major support is $0.42, and if it breaks, the market could fall an additional 10% off the current level.
This Fibonacci retracement pattern is plotted from the last swing high ($0.0067) to the most recent swing low ($0.4200) and helps chart negative risks, or rather bearish bias.
If the PI price supports $0.47 and the FIB can be regained, the Bulls will be able to regain short-term control. But until that happens, the trend will decline. If the PI breaks above $0.5142, a clear uptrend emerges.
Pi Price risks a 10% crash to $0.40 unless bullish divergence occurs. For now, sellers are in control, but momentum indicators suggest that this may not last forever.
Disclaimer
In line with Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. Although Beincrypto is committed to accurate and unbiased reporting, market conditions are subject to change without notice. Always carry out your research and consult with an expert before making any financial decisions. Please note that our terms and conditions, privacy policy and disclaimer have been updated.
