Short Description:
Pi Network price struggles at key resistance as investors take profits following a critical network upgrade. Will the rally continue or reverse?
Read Time: 2 minutes 10 seconds
Main Article:
Pi Network Price Faces Crucial Test at 50-Day EMA Amid Investor Profit-Taking
The Pi Network (PI) price is confronting a significant technical hurdle, trading just above $0.17 as it tests the descending 50-day Exponential Moving Average (EMA) near $0.1767. This comes after a notable short-term recovery, which appears to be facing exhaustion. On-chain data reveals a telling shift in investor sentiment: approximately 2.9 million PI tokens flooded into verified centralized exchanges (CEXs) over a 24-hour period. This substantial profit-taking activity suggests that many holders capitalized on the recent price bump, viewing it as a local top, especially after Sunday’s intraday high of $0.2070. The timing aligns directly with the passing of a mandatory mainnet node upgrade deadline, an event that often triggers volatility as the market digests its implications.
Technical Analysis: Bullish Momentum Meets Strong Resistance
The technical analysis for PI presents a mixed but precarious picture. While the token trades below both the 200-day and 50-day EMAs—confirming a broader bearish trend—short-term indicators show flickers of bullish momentum. The Relative Strength Index (RSI) holds above 50, and the Moving Average Convergence Divergence (MACD) shows rising positive momentum. For the Pi Network price to invalidate the bearish bias and signal a stronger recovery, a decisive daily close above the 50-day EMA resistance is essential. Such a breakout could open the path toward the $0.20 psychological level, potentially fueled by sentiment around the upcoming one-year anniversary of the Pi mainnet launch.
However, the risk of rejection is high. If selling pressure from the recent exchange inflows persists and the price is rejected from the 50-day EMA, a retracement becomes likely. The immediate support to watch in a pullback scenario is the October low near $0.1533. Traders are now watching to see if the technical indicators can overpower the clear profit-taking behavior observed on-chain.
Short Summary:
Pi Network’s price faces a pivotal moment at the 50-day EMA resistance near $0.1767. Recent on-chain data shows significant profit-taking by investors following the mainnet upgrade, threatening the short-term rally. The technical outlook hinges on a clear break above this resistance for a run toward $0.20, or a reversal toward support at $0.1533. Monitoring exchange flow data and EMA reactions is key for PI’s next directional move.
