Resistance Battle Intensifies as Pi Price Hovers Near $0.75

Pi Coin currently experiences a crucial market status while maintaining price stability between $0.74 and $0.75 after it entered an upward trend

Pi Coin is currently experiencing a crucial market status while maintaining price stability between $0.74 and $0.75 after it entered an upward trend from an extensive bear market earlier this month.

Following its April 6 momentum breakout from its falling channel, the token has been maintaining positions above the $0.70 support level, which signals rising market demand. However, market participants are hesitant because Pi Coin approaches the psychology-based and technical resistance marks of $0.75.

Resistance Battle Intensifies as Pi Price Hovers Near $0.75

The Pi price has tested the $0.7485 resistance level multiple times without a confirmed breakout.

During this current period of consolidation right below the resistance level, market participants await a definitive signal. Strong buying pressure combined with positive momentum indicators could enable Pi Coin to reach a price zone between $0.80 and $0.84 following its success in surpassing $0.75.

If it fails to break through the $0.75 resistance level, the price has the potential to decline all the way to $0.67 and potentially reach $0.70.

Multiple indicators indicate conflicting signals in the current market data. The Rate of Change indicator displays constructive momentum while the Commodity Channel Index keeps rising above 120. A strong Pi trend might emerge if the ascending triangle pattern resolves upward. The Bull/Bear Power currently indicates modest bullishness in its position.

However, the Relative Strength Index (RSI) stands at 42.9 below 50 while the MACD signals bearish conditions without a crossover point, indicating caution for the current market indicators.

Pi Analysis: Mixed Indicators Paint Unclear Picture for Short-Term Movement

The 5-minute price movements of Pi Network/USDT displayed standard range-bound patterns, which then produced multiple breakout and pullback phases during the 07:00 UTC on the 14th to 06:30 UTC on the 15th period.

A descending trendline restricted price movement in a continuous downward trajectory of the market up until 14:30 UTC. The price reached the essential support level at 0.7310 during this period while performing multiple validates before breaking away from the descending trendline at 15:00 UTC. The RSI indicator confirmed the price breakout, which passed through the oversold region, then rose above the 40 level as it showed selling forces had reached their peak before a bullish movement started.