Growth Points Round 1๏ธโฃ 1๏ธโฃ Summer Lucky Grand Draw is on fire!
Draw now for your chance to win an iPhone 16 Pro Max and exclusive merch!
๐ https://www.gate.com/activities/pointprize?now_period=11
๐ 100% win rate! Complete simple tasks like posting, liking, commenting in Gate Post to enter the draw.
iPhone 16 Pro Max 512G, Gate hoodies, Sportswear, popular tokens, Futures Vouchers await you!
Collect just 2 fragments to easily redeem Gate merchโtake your rewards home!
Ends on June 4th, 16:00 UTC. Try your luck now!
More info: https://www.gate.com/announcements/article/45185
As of May 19, 2025, Pi Network (PI) is trading at approximately $0.7477, reflecting a modest recovery from recent lows.
๐ Technical Analysis Overview
Support Levels
Immediate Support: $0.72โ$0.70
Secondary Support: $0.66โ$0.68
Key Support Levels:
S1: $0.6549
S2: $0.6180
S3: $0.5737
Resistance Levels
Immediate Resistance: $0.78
Breakout Target: $0.85โ$0.90
Key Resistance Levels:
R1: $0.7362
R2: $0.7806
R3: $0.8175
๐ Market Indicators
Ichimoku Cloud: PI is trading below the Kumo, indicating a bearish bias.
Chande Momentum Oscillator: Currently at โ39.01, suggesting weak bullish momentum.
MACD & RSI (30-min): Both indicators are flat/neutral, pointing to potential consolidation or reversal.
๐ Trend Outlook
Short-Term: PI is consolidating between $0.70 and $0.78. A decisive move above $0.78 could lead to a rally toward $0.85โ$0.90.
Medium-Term: The formation of a rounding bottom pattern suggests a potential bullish reversal, with a possible 50% price rally if confirmed.
โ ๏ธ Risk Factors
Recent Volatility: PI experienced a sharp decline of over 40% following the announcement of a $100 million venture fund, leading to investor skepticism.
Market Sentiment: The current sentiment is cautious, with traders awaiting a clear breakout above resistance levels to confirm a bullish trend.
โ Conclusion
Pi Network (PI) is currently in a consolidation phase, with key support at $0.70 and resistance at $0.78. A breakout above $0.78 could signal a bullish trend toward $0.85โ$0.90. However, failure to hold above $0.70 may lead to a retest of lower support levels around $0.66. Traders should monitor volume and momentum indicators for confirmation before entering positions.