Pi Network token PI recorded a small increase on Friday after three consecutive trading days. The currency had previously experienced a sharp turn-back earlier in the month, with a slowdown in sales pressure in the recent past and a rebound in derivatives market activity.
Unsettled contract recovery
The data show that PI's open contract rose to $1.073 million on Friday, up from $1.044 million the previous day and up significantly from $9.11 million on Monday. This means that, after the previous period of decline, part of the money traded is re-entering the market, and short-line games are on the rise.
However, in terms of overall scale, this rebound remains limited, suggesting that the current return of funds is more in the form of an exploratory layout than a strong reversal.
Market mood recovery
The article mentions that the high volatility and community-driven trading environment in which PI operates has improved somewhat as the broader encryption market risks have stabilized. At the same time, the upgrade of the Stellar Protocol v25 main network, scheduled for 22 July, was also seen as one of the external factors that could drive the associated ecological sentiment.
Such factors, which are more emotional, are still dependent on the overall performance of the follow-on market, as a result of their transformation into a sustainable buyout.
The price is still in the lower range.
In terms of movement, PI is still at a critical resistance level of $0.0800 and the overall trend has not been reversed. According to the article, PI is still operating in the lower corridor, but the price is temporarily located near it.
With regard to technical indicators, the relative strength and weakness index RSI has dropped to about 17, indicating that PI is in a significant oversale range. Although still below the zero axis, MCD has shown signs of a decrease in the empty kinetic energy, suggesting that the decline in the previous period may be slowing down.
If the rebound continues, the market will focus first on the US$ 0.09613 line; if it moves further, the vicinity of US$ 0.110 may constitute the next pressure. Below, attention needs to be paid to the US$ 0.06793 support position, which, if lost, could be further opened down the price line.
Overall, PI short-lines show signs of repair, but the market still sees them as a rebound in the downward trend until key resistance positions are recovered.