Pi Network (PI) Price Predictions for This Week

PI finds support at $0.15, but can it hold?

PI Network (PI) Price Predictions: Analysis

Key support levels: $0.15, $0.13

Key resistance levels: $0.16, $0.20

PI Remains in a Downtrend

After PI lost its support at $0.16, the price quickly dropped to $0.15, where buyers have shown some interest. However, it is too early to say if this support level will hold or not. A much stronger candidate is the level at $0.13, which rejected bears in the past.

With this latest breakdown, sellers regained the initiative, and they may eventually be able to send PI lower, even if buyers are trying to stop a resumption of the downtrend. This is unfortunate considering that PI has already corrected by 96% since its all-time high.

Sell Volume Remains Low

Even if sellers have the advantage right now, their volume remains low and is making lower highs. This shows that they lack conviction or appear uninterested in pushing PI’s price much farther down.

Should the support at $0.15 hold, then buyers have a good shot at trying to reclaim $0.16 and rebuild momentum towards a reversal to recover some of the most recent losses since the price action turned bearish.

MACD Continues to Fall

The 3-day MACD continues to fall to new lows, as indicated by its histogram. While that is bearish, this is happening on decreasing sell volume. In light of that, this could be interpreted as a bullish divergence with a possible reversal on the horizon.

If the MACD histogram turns flat this week, that will be the first signal that sellers are no longer able to control the price, and a relief rally could follow.

The post Pi Network (PI) Price Predictions for This Week appeared first on CryptoPotato.

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