Technical Wall Stops Pi’s Recovery Again

Within two months, Pi Network has lost nearly 90 % of its value. The crypto went from $2.99 to a low of $0.40. This collapse could have marked the end of the enthusiasm, but a recent rebound has revived attention. While some see it as a mere recovery, others mention the beginnings of a turnaround. As the project is about to cross a key milestone, the price movement in the coming days could reshape the trajectory of this controversial crypto.

The $0.75 Wall Resists Pi Network

Since its rebound to $0.40 on April 5, Pi Network has attempted twice to break the technical barrier of $0.75, without success. These failed attempts, marked by clear rejections on technical charts, confirm the strength of this horizontal resistance.

Pi Network has still not succeeded in crossing the $0.75 horizontal resistance zone, despite a surge described as the “first bullish sign since the start of the correction”. This reversal attempt is still too fragile to impose itself against key technical thresholds.

The analysis of technical indicators reinforces this cautious reading. Several signals converge towards maintaining a bearish bias :

• The RSI (Relative Strength Index) remains below the 50 threshold, indicating persistent seller dominance in the market ;
• The MACD (Moving Average Convergence Divergence) remains in negative territory, without a significant bullish crossover ;
• The breakout of a symmetrical triangle, followed by revalidation of this structure as resistance (around $0.75), supports the analysis that the corrective movement is far from over ;
• Finally, the Elliott wave count could lead to a fifth bearish wave forming, with a potential drop towards $0.30 based on Fibonacci retracement (1.27).

These elements, although purely technical, cast a shadow over the hypothesis of a durable reversal. As things stand, the market structure remains unfavorable for an immediate recovery.

A Bullish Tremor Bringing Hope ?

Despite this technical deadlock, some recent signals indicate a possible reversal. The PI price is currently trying to form a higher low than the previous one, a configuration that, if confirmed, would mark the first structural sign of a trend reversal in weeks.

Pi Network could create a higher low, the first since the start of the downtrend. This observation suggests that the market might be starting to digest the initial drop to build a base for a rebound.

Pi Network could create a higher low, the first since the start of the downtrend. This observation suggests that the market might be starting to digest the initial drop to build a base for a rebound.

Another point to consider is the Elliott Wave count. It indicates that the crypto is engaged in a fifth bearish wave, usually terminal. This scenario foresees a potential decline toward $0.30, based on the external Fibonacci retracement level.

However, this is where the ambiguity lies. If the price manages to invalidate this pattern by breaking the symmetrical triangle resistance line (which coincides exactly with the $0.75 level), then the entirety of this bearish reading would be questioned.

The future of Pi Network will largely depend on its behavior around this key $0.75 zone. A clear and confirmed break could revive momentum, attract new entrants, and trigger a rebound fueled by speculation. Conversely, a new failure would confirm the continuation of the bearish trend, with increasingly bleak prospects. In this technical limbo, investors must exercise increased vigilance, as any premature decision could be costly.