PI Token Battles Resistance at $0.52 as Market Sentiment Remains Divided

Pi Network's native token Pi faced strong resistance at the $0.52 level this week, experiencing a sharp rejection before falling back to $0.46. This failed breakout attempt formed a lower high, confirming the ongoing downtrend that has persisted since May.

While technical indicators appear bearish, on-chain metrics show increasing buyer activity. Trading volume surged during July's second attempt to surpass $0.52, with the $0.44-$0.40 range now established as crucial support. The Relative Strength Index's repeated inability to hold above 50 continues to signal caution for bullish traders.

Technical analysts emphasize that PI requires a decisive close above $0.52 to reverse its current momentum. Until this occurs, the token remains locked in a pattern of lower highs—a classic bearish structure. The next few days will determine whether growing buying pressure can finally overcome this persistent resistance zone.