Pi Network Nears All-Time Low, But Some Say Pi Network’s Big Comeback Is Near
Pi Network’s value has recently dropped significantly, approaching the $0.50 threshold. As the altcoin approaches a possible all-time low (ATL), investors are becoming increasingly concerned due to this persistently pessimistic outlook. Despite this, some evidence points to Pi Network perhaps being ready for a reversal, raising the prospect of a price rebound soon.
Pi Network is currently trading at $0.53, slightly below the $0.57 barrier level. The altcoin is currently 28.5% away from last week’s all-time low of $0.40. Even if there is a risk for more drops, it is unlikely that we will see this low again.
Pi Network RSI Hits 35: A Bullish Reversal in the Making?
As of right now, Pi Network‘s Relative Strength Index (RSI) is 35, inches from the 30.0 oversold mark. This suggests that an oversold situation, which often portends a possible rebound, is approaching for the cryptocurrency.
Even though the price has dropped for two months, the RSI‘s current posture suggests that it may rise again, just like it did in early April. The altcoin may see a sharp increase if history is repeated, setting Pi Network up for a reversal.
Pi Network Price Poised for Spike as Volatility Builds
The price of Pi Network is stabilizing before a possible breakout, as indicated by the squeeze momentum indicator’s indicators of a squeeze (shown by black dots). An increase in green bars on the histogram that goes with the squeeze indicates that bullish momentum is getting stronger. This implies that volatility is probably going to rise, which might push Pi Network’s price higher in the days ahead.
The release of this pent-up volatility as the squeeze intensifies may cause Pi Network’s stock to fluctuate sharply. The momentum that results from the squeeze release to the upside may lead to a robust recovery and assist the altcoin in rising above its recent lows. If the market conditions are right, these factors point to a potential price spike for Pi Network.
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