Pi Network token PI has recently rebounded more than 30% at a low point since last week, showing better than some medium market value encrypted assets. After the price rebound, PI has re-entered a downward line that has been going on for months, and the market focus has shifted to whether this round of rebound can further evolve into an effective breakthrough.
The trade-rate upturn leads to attention.
A few weeks ago, the PI continued to pressurize, once down to a few months low. Although this round rebound was not accompanied by clear ecological news, the trade activity rebounded, indicating that the purchaser was re-entering the market.
In terms of trends, price recovery coincided with the amplification of the trade, suggesting that spot demand had improved and that some of the sales pressure had begun to be absorbed. It also allows PI to get out of the weaker phase of the transaction and re-enter the eyes of the dealer.
Price test declining trend line
In the light of the dayline trend, PI is currently testing a downward trend in the price rebound that has been suppressed since March. The region is also at the heart of numerous counter-attacks in recent months.
In addition to trend-line resistance, current prices are close to the 20- and 50-day average, creating a more concentrated resistance zone. If prices were to be effective in the region, the downward hierarchy that has been evolving over the past few months would be broken and the market's expectation of a phased rehabilitation would rise.
0.08 dollars for first support
The article mentions that if the PI-day line is over the above-mentioned resistance zone, the market will pay further attention to the US$ 0.13, followed by the whole of US$ 0.20.
On the bottom side, $ 0.08 near the recent rebound starting point is considered the first support. If the position is secured, the currently improved price structure can be maintained; if again blocked near the trend line, PI may continue to convulse and wait for the next breakthrough attempt.
Overall, this round has moved the market away from a simple focus on downside risk and towards a view of whether there is a clearer signal of trend recovery. The next few trading periods may determine whether this increase is a phase-back or the starting point for more sustained repair after months of vulnerability.