PI Coin is trapped in the zone of $0.47-$0.5 - When will it break out?

The price of PI Network is currently maintaining a stable level around the mark of 0.47 dollars over the past four days. Optimistic traders are actively participating to prevent a breakdown below this threshold, while also being concerned about the possibility of the price returning to its all-time low.

With technical signals indicating that the market is in a quiet phase, the price of this token has stabilized for a short time, but its future remains unclear.

The price of PI fluctuates between 0.47–0.5 dollars

The PI/USD chart on a one-day time frame reflects a clear struggle between buying and selling pressure since the beginning of the week. Although the price of this token remains stable, trading has mainly occurred within a narrow range, indicating a rather bleak state.

Since Tuesday, PI has encountered resistance at $0.5 and found support at $0.47. This sideways movement indicates a temporary balance between buying and selling pressure, as traders remain on the sidelines, waiting for a sufficiently strong catalyst to create a clear movement.

The relative strength index (RSI) of PI is currently moving sideways, indicating a period of low volatility. The RSI has fluctuated within a narrow range over the past few days, while also indicating a lack of strong movements. As of now, the RSI of PI is 35.93, reflecting a rather thin balance between buyers and sellers, while also lacking clear confidence from the market.

PI RSI | Source: TradingViewThis pattern shows that traders are not committing to large trades and are still waiting for a clear signal to confirm the next trend.

The Average True Range indicator (ATR) of PI also shows a significant decrease, recording a drop of 12% compared to Tuesday and currently stands at 0.048. ATR measures the price volatility over a specific time period, and when this indicator decreases, it usually indicates that price volatility is narrowing and market momentum is weakening.

PI ATR | Source: TradingViewThe decline of ATR reinforces the view that the PI market is in a period of lacking strong volatility, with momentum not strong enough to shape a clear price trend.

Signals from the RSI and ATR indicate that the PI market currently lacks clear momentum. Price volatility is narrowing, and the market is still looking for a triggering factor that could lead to a strong directional change.

PI is at a critical juncture

Periods of low volatility often serve as a precursor to strong breakthroughs or breakdowns when market momentum re-emerges. If bearish sentiment continues to dominate and the support level of $0.47 is not maintained, PI may face the risk of dropping to an all-time low, around $0.4.

However, in the event that market sentiment changes and buying pressure increases, PI may break down the resistance level of $0.5. If this happens, the price could continue to rise sharply, aiming towards the $0.57 range, opening up strong recovery opportunities for this token.

Price chart of PI | Source: TradingViewIn summary, PI is at an important crossroads, where influencing factors could determine a breakthrough or a breakdown in the near future.

Taylor