PI rebound fades ahead of critical resistance trendline: Pi Network price forecast

$0.0700 is Pi Network’s consolidation level on Thursday following Tuesday’s 8% recovery.
More than 590 million PI have moved to the GASW wallet from OKX’s exchange wallet this week, easing potential selling pressure.
Below a long-term descending trendline near $0.0730, PI’s technical outlook stays bearish.

$0.0700 remains the level around which Pi Network (PI) is consolidating. As at Thursday’s press time, the price is steady near that round figure following Tuesday’s 8% recovery. More than 590 million PI tokens left the OKX exchange wallet as the rebound took place, pointing to less downward pressure. A key trendline around $0.0730 continues to cap PI, leaving the technical bias bearish.

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593 million PI withdrawn from OKX exchange wallet

Tuesday brought a withdrawal of 593 million PI tokens from the OKX exchange wallet, sharply reducing the supply available for sale. With more Pi concentrated among holders who are not selling, the outflow points to longer-term upside potential.

$0.0730 resistance: PI’s prospects for a breakout rally

At $0.0702 as at Thursday’s press time, Pi Network retains a bearish tone while resistance around $0.0730 limits gains. Above the token’s price sit both the 50-day Exponential Moving Average (EMA) at $0.0792 and the 200-day EMA at $0.1097.

Daily momentum indicators also point to persistent downward pressure. The Relative Strength Index (RSI) is near 36, while the Moving Average Convergence Divergence (MACD) remains below zero, keeping momentum weak.

For any advance, a rising trendline around $0.0730 marks the nearest resistance, with the 50-day EMA at $0.0792 reinforcing the barrier. Higher medium-term resistance lies at $0.1049, the 50% retracement of the decline from $0.1394 to $0.0704, followed by the 200-day EMA at $0.1097.