Pi Network is currently trading around $0.535 as price action remains locked in a tight consolidation range. This follows recent selling pressure that pushed the asset into a subdued trading phase over the past week. The market has since entered a low-volatility environment, with indicators pointing to an upcoming breakout.
In the 4-hour timeframe, Pi moved between $0.523 and $0.544, forming a narrow structure that had been held since mid-June. The price stays below some important exponential moving averages, such as the 20, 50, 100, and 200 EMAs, which lie within the range of $0.538 and 0.596. This position indicates medium-term bearishness.
The 4-hour chart shows Bollinger Bands compressing sharply, and the Donchian Channel demonstrates such compression. These are some of the indicators that the peak of price volatility is just approaching and expansion is likely.
Traders are following these conditions closely with the view that there will be a big price move in the next 24 to 48 hours.
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Bearish Indicators Dominate Short-Term Charts
Shorter timeframes reinforce the ongoing bearish structure, as the 30-minute chart shows Pi trading below the VWAP line at $0.539, suggesting sellers continue to dominate intraday sentiment. The Parabolic SAR dots have flipped above the price, further confirming weak bullish momentum.
As illustrated in Ichimoku Cloud, the price is lower than that of Kumo Cloud. Tenkan-Sen and Kijun-Sen lines are moving down, whereas the Chikou Span is lagging behind the price and the cloud, which adds to the bearish view.
Price has not been able to break into the cloud twice this week, and this is an indication of a lack of conviction on the part of buyers.
Other signs of weakness identified with momentum oscillators are also weak. The Stoch RSI is massively oversold with no crossover yet to confirm a possible reversal, while the MACD has undergone a bearish crossover and its histogram remains flat, and the RSI at 42.85 reflects weak buyer strength.
Source: Tradingview
Unless bulls can drive the price above the current value of $0.544, Pi can continue trading within the range or approach lower supports. A break below 0.5 23 might expose the way to a move lower to 0.505 and even 0.480, where previous demand was noticed.
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