Pi Network’s Bullish Crossover Sparks Price Recovery—Ending Holders’ Long Nightmare

After months of sideways action, Pi Network finally wakes up with a bullish technical breakout.

The crossover—watched like a hawk by traders—flips the script for frustrated holders. No more ‘when moon?’ memes. At least for now.

Chartists point to the golden cross forming on the daily timeframe. The 50-day MA just sliced through the 200-day like a hot knife through butter. Classic momentum signal. Even the crypto bros who failed high school math get this one.

Of course, the usual suspects are already calling for ‘life-changing gains.’ Because nothing says sound investing like blindly trusting a token that still isn’t tradeable on most exchanges. (But hey—this time it’s different, right?)

One thing’s certain: after eating nothing but red candles for breakfast, Pi holders finally have something to chew on.

Pi Network Needs Support

The Moving Average Convergence Divergence (MACD) indicator signals that Pi Network’s three-week-long bearish momentum may soon come to an end. The MACD line is nearing a crossover with the signal line, which WOULD confirm a bullish crossover. This technical signal often sparks investor optimism, leading to potential price gains.

As the bearish trend weakens and the MACD crossover materializes, the shift in market sentiment could reignite investor confidence in Pi Network. A bullish crossover would likely encourage buying pressure, pushing the price upward. 

Pi Network’s macro momentum also points toward a possible recovery. The Chaikin Money FLOW (CMF) recently dipped below the zero line, signaling outflows from the altcoin. The CMF has reached its lowest point since early May, highlighting investor uncertainty. However, if the outflows are controlled and the inflows increase, Pi Network could see a reversal in its price direction.

The market’s erratic behavior is primarily due to the hesitation among investors, who remain cautious. However, if the market stabilizes and the balance shifts toward positive inflows, PI Network’s price could benefit from renewed investor confidence. 

PI Price Jump Ahead?

Pi Network is currently priced at $0.64, holding above the support level of $0.61 for the last two weeks. Despite its failure to recover significantly, the altcoin remains above its support level. If the inflows improve and market conditions turn bullish, Pi Network could break through its resistance at $0.71 and push higher.

Should the market sentiment continue to improve, Pi Network could confirm a bullish trend by successfully flipping the $0.71 resistance into support. This would create a solid foundation for a sustained price rise.

However, if the outflows continue to dominate the inflows, Pi Network’s price will likely stay stagnant above $0.61. If market conditions worsen, the price could slip below $0.61, falling toward the next support level of $0.57. Such a decline would indicate that the bullish thesis is invalidated, and Pi Network’s recovery may take longer to materialize.