Pi Network (PI) Price Prediction: A rare appearance of a "real" bullish candlestick, still waiting for more buyers to intervene to end the Bear Market.

Pi Network (PI) has risen to $0.5201 in today's (11th) Asian morning session. The Pi coin has finally rebounded after several weeks of stagnation. Technical analysis shows that the Pi coin has rarely seen a "real" bullish candlestick for some time, but more buyers need to step in to end the bear market indicators.

The price of Pi coin currently shows some momentum, but has not yet emerged from difficulties. If we can maintain above $0.51 and break through this trend line, the market trend may become more interesting.

Looking around, the price of PI coin is still in a long-term downtrend. Since its crazy surge to around 1.90 dollars in May, every attempt to rebound has faced heavy setbacks.

The latest K-line chart is the first real attempt to break through this pattern. The trend line is still hovering around $0.51 to $0.55.

If the price of Pi coin breaks through and holds this level, we may welcome a real reversal. Otherwise, we might drop to 0.47 dollars or even lower.

Technical signals are mixed, the ADX indicator shows that trend strength is increasing, but the MACD, ROC indicators, and bull-bear momentum indicators indicate that the Bear Market has not completely receded.

(Source: Trading View)

Pi coin price prediction scenario

Bullish Scenario:

If the price breaks through and stays above $0.55 with increased volume, the momentum may develop towards the $0.65 to $0.70 range in the short term.

Neutral Scenario:

If the trend line cannot be broken, it may lead to the price fluctuating between $0.47 and $0.55 until more buyers intervene.

Bearish Scenario:

If the bulls lose momentum and the price falls below $0.47 again, it may next test the support levels of $0.44 and $0.40.

Summary

The price of Pi coin has finally rebounded, but it is still at a critical decision point. This trend looks promising, as it is the first real bullish candlestick in a while.

But unless the bulls break through the trend line and hold it, we may stay in this range for a longer time. Keep a close eye on the $0.51 to $0.55 area, as the market will determine the next move.