Cryptocurrency investors are closely watching Pi Network’s crucial defense of the $0.35 support level, which could determine the project’s short-term trajectory. This critical price point has become a battleground between bulls and bears, with technical indicators suggesting potential for significant upward movement if buyers maintain control.
Pi Network Technical Analysis Shows Strong Foundation
Pi Network has demonstrated remarkable resilience at the $0.35 support level. Recent price action indicates a potential structural shift in market sentiment. This level aligns perfectly with the value area low and point of control. Repeated candle rejections and volume profile analysis confirm strong buyer presence. Consequently, this foundation could support moves toward key resistance zones.
Accumulation Pattern Signals Buyer Strength
The technical setup reveals a favorable accumulation pattern at support levels. Declining volume during $0.35 retests indicates seller exhaustion. Buyers are gathering strength while sellers lose influence. This dynamic increases breakout probability significantly. Bullish volume surges above local resistance would confirm trend strength.
Key Resistance Levels and Price Targets
Successful defense of $0.35 support opens path toward higher targets. The first major resistance sits at $0.50, representing a 43% potential gain. This level coincides with value area high and historical resistance. Further breakthrough could target $0.70 resistance zone. However, these levels present significant volume-based barriers.
Network Developments Bolster Investor Confidence
Pi Network prepares for major upgrade alignment with Stellar’s Protocol 23 transition. This development timing reinforces potential price reversal possibilities. Network improvements typically boost investor confidence during critical support tests. Consequently, fundamental and technical factors align favorably.
Stellar Network Correlation and Market Dynamics
Stellar (XLM) shows early recovery signs near $0.38 support zone. Derivatives data indicates shifting trader sentiment with positive funding rates. VersaBank’s XLM integration for tokenized deposits adds real-world utility. This correlation matters because Pi Network aligns technically with Stellar.
Critical Technical Junctures for Both Networks
Both networks face decisive moments in coming weeks. Pi Network must maintain $0.35 support while Stellar tests $0.36 level. Relative Strength Index readings below 50 suggest bearish momentum currently. Moves above this threshold would confirm sustainable recovery. Break below supports could trigger further declines.
Market Monitoring and Momentum Confirmation
Investors closely watch both networks for sustained momentum signs. Volume confirmation remains essential for bullish case validity. Without sustained buying pressure, movements above $0.35 risk retracement. The next few weeks will determine whether support transforms into breakout.
FAQs: Pi Network Price Analysis
What makes $0.35 so important for Pi Network?
The $0.35 level represents value area low and point of control where buyers have consistently demonstrated strength through repeated rejections of lower prices.
How does Stellar’s performance affect Pi Network?
Since Pi Network aligns with Stellar’s technology and Protocol 23 upgrade, XLM’s price action and developments create correlated market dynamics and investor sentiment.
What volume confirmation is needed for breakout?
Sustained buying pressure with volume significantly above average levels must accompany any move above $0.35 to confirm genuine breakout rather than false signal.
What time frame determines the breakout validity?
Weekly closing above $0.35 with confirmed volume provides stronger validation than intraday breaks, with the next 2-3 weeks being critical for momentum confirmation.
What are the main risks to the bullish scenario?
Failure to hold $0.35 support, lack of volume confirmation on upward moves, or broader market downturn could invalidate the bullish setup and trigger further declines.
How does Protocol 23 upgrade impact price potential?
Successful network upgrades typically improve investor confidence and fundamental value proposition, potentially creating positive momentum alongside technical breakthroughs.
