Pi Network (PI) Price Predictions for This Week

PI has found a bottom. Can bulls push it back up?

PI Network (PI) Price Predictions: Analysis

Key support levels: $0.16

Key resistance levels: $0.20, $0.28

PI Moves Sideways

After weeks of downtrend, PI has finally found a bottom around $0.16 where buyers made a brief attempt at higher levels before sellers stopped them. Nevertheless, the current price action shows that sellers have lost the initiative.

With sellers on the defensive, buyers have a clear shot at higher levels. Their recent attempt to move the price above 18 cents was rejected, but this spike in the price is a clear signal that the downtrend is over.

Momentum About to Shift Bullish

Since the price is making higher lows, PI is well positioned to capitalize on its current momentum and try to move away from the key support at 16 cents. While the resistance at 20 cents will be hard to break at first try, any attempt will be considered bullish.

While the price action is promising, it needs to be accompanied by sustained buy volume to allow PI to expand higher. Right now, the volume remains low, but this could change at any time.

Volume is Low, but Shows Promise

The recent spike in buy volume was a welcome change after weeks of flat price action and low volume. Nevertheless, this is the first attempt at a breakout since mid-March and may turn into a sustained rally later.

For PI to really challenge the current resistance, the buy volume needs to return to March levels when PI managed to rally to 30 cents in quick succession. Hopefully, this time around, sellers will be less aggressive and allow the price to expand beyond 30 cents.