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Pi Network Price Consolidates at Key Support Level

Pi Network (PI) has been in a prolonged downtrend, characterized by lower highs and lower lows. Despite recent updates, including the Stellar protocol 23 upgrade, investor sentiment remains cautious. Moving averages have compressed price action downward, but the asset is now at a pivotal juncture that could influence future momentum.

Key Technical Points

• Support at $0.33: Holding this level may form a triple bottom, indicating potential accumulation.
• Point of Control (POC): Price has retested but not reclaimed POC, maintaining bearish structure.
• Upside Target: A break above POC could lead to a rally toward $0.85 resistance.

Volume analysis shows limited bullish inflows, suggesting demand has not yet materialized. For a confirmed reversal, sustained bullish volume is necessary while support holds.

Market Outlook

If $0.33 support is defended and accumulation occurs, a triple bottom could set the stage for a trend reversal. Failure to hold this level may extend the downtrend. Traders should monitor volume and key resistance levels for signals.

Reclaiming the point of control after defending support typically allows price to rotate higher, but this has not yet occurred.

This analysis is based on technical indicators and market structure. No financial advice is intended; investors should conduct their own research.