Pi Network is searching for buyers as the price makes lower lows.
PI Coin Price Predictions to Watch This Week
Key Support levels: $0.40
Key Resistance levels: $0.52
1. Downtrend Continues
While most of the market is turning bullish, PI Network appears to struggle, being unable to find buyers. With the price making new local lows, it seems that this cryptocurrency might decrease even further and hope that the support at 40 cents wil bring interest back.
2. Sellers Dominate
A quick look at the volume profile shows that sellers are dominating the chart with 10 days out of 16 closing in red only in July. This has kept the downtrend intact and until the key resistance at $0.52 is broken, it is unlikely that PI can return on an uptrend.
3. Momentum Indicators Remain Bearish
The daily RSI has consistently remained under 50 points in the past two months and is currently close to 30. This is a sign of weakness and can be interpreted as bearish. For optimism to return, the RSI has to climb back above 50 and stay above it.
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