Pi Network (PI) price forecast for this week

Is the major index correction over, and can buyers regain control?

Price Forecast of PI Network (PI): Analysis

Key support levels: $0.15

Key resistance levels: $0.20, $0.28

PI remains at key support

Since the recent correction from the 30 cent level, the PI has found strong support around the $0.17 area, where the bears have not been able to push the price down for more than two weeks. This is the first bullish signal that the PI may want to reverse here.

The price is also compressed with lower volatility and lower volume. This is usually a precursor to a big move. Looking at the price action, buyers have a great opportunity to grab the $0.2 resistance level and retest it next.

Reverse momentum

A look at the RSI on the daily time frame shows that it is making higher lows and closing near the midpoint at 50. Since sellers appear absent, this is a clear opening for buyers to return.

If the price can continue to hold around its current levels, it is likely to rise to the 20 cent resistance level, as the bears seem unable to move the price lower and are showing clear signs of exhaustion.

MACD bullish cross?

The daily time frame MACD gives another clear reversal signal, with the histogram recording higher lows and moving averages that appear to be bending higher. If they cross, the chart will likely turn to the upside, and the price may push towards 20 cents again.

It is best to be patient here and let the price show the way. Most likely, by the end of this week or early next week, the indicator indicator will confirm a bullish crossover if the price movement continues in its current direction.