Pi Network Price Forecast: Can PI break through long-term resistance as selling pressure eases?

• A modest gain on Monday sees Pi Network test a bullish break above a long-term resistance trendline.
• Risk appetite weakens as the Fear and Greed Index falls to 36, compared with 43 last week.
• Recovering momentum gives the PI token’s technical outlook a slight upward bias.

Gains in Pi Network (PI) on Monday contrast with bearish sentiment across the broader market, as the token tests a bullish break above a long-term resistance trendline near $0.0788. Demand for altcoins remains under pressure, with the Fear and Greed Index falling from 43 last week to 36 on Monday. Strengthening momentum lends a modest upside bias to the PI token’s technical outlook.

Can Pi Network’s growing retail interest overcome weak broader market sentiment?

Fresh positions in Pi Network derivatives point to returning trader interest, even as demand across the wider market remains subdued. According to Blockworks, PI futures Open Interest (OI) has increased from $7.91 million last week to $8.55 million, signalling a higher notional value of outstanding contracts. This increase in PI futures OI suggests traders anticipate further gains in the spot price, potentially paving the way for a breakout rally.

By contrast, investor sentiment remains weak, with CoinMarketCap’s Fear and Greed Index reading 36 in the “Fear” zone. This follows the recent Binance hack, in which $6 billion was stolen and Bitcoin (BTC) was briefly driven below $77,000 last week.

Technical outlook: Can the PI token launch a breakout rally?

At the time of writing, Pi Network is priced at $0.0784, with a long-term resistance trendline near $0.0788 limiting its advance. The trendline links the highs of June 20 and September 30. PI remains below both 50-day Exponential Moving Averages (EMAs), which stand at $0.0828 and $0.1114, respectively.

On the daily chart, a recovery in momentum is evident as the Moving Average Convergence Divergence (MACD) moves above its signal line while remaining in negative territory. Meanwhile, the Relative Strength Index (RSI), at 45, is climbing from the oversold boundary towards the neutral midline.

If a breakout above the resistance trendline at $0.0788 is confirmed, it could validate a bullish trend reversal. Potential upside targets would then be the 50-day EMA at $0.0828 and $0.1049, the 50% retracement level of the decline from $0.1394 to $0.0704.

On the downside, the October 15 low near $0.0740 provides the only notable structural support, ahead of the Fibonacci anchor around $0.0704. Should selling pressure return, buyers would be expected to defend the lower boundary of the current range at that level.

(An AI tool assisted in writing the technical analysis in this article. Learn more.)