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Pi coin price prediction: Approaching the $0.4 key support! Technical indicators show signs of short positions exhaustion, can it reverse in August?
The Pi Network Token PI experienced a big pump of 190% in May but has since faced ongoing profit-taking, with the price plummeting 75% from a high of $1.67 to a key support level of $0.40 over the past two months. History shows that this position has successfully resisted the dumping waves in April and June. The current daily chart RSI approaching the oversold zone indicates a weakening of short positions momentum, but SuperTrend maintains a sell signal, and shrinking social volume along with low derivation interest still poses pressure. If the $0.4 support holds, the rebound target looks at $0.67(60% rise ) or $1(150% rise ); if it loses this support, it may dip to $0.09.
【big dump 75%后测试关键 support level】
(Source: TradingView) The Pi Network Token PI has faced continuous profit-taking pressure over the past two months after experiencing an astonishing 190% big pump in May. The chart shows that the PI price has dipped 75% from its peak of $1.67, currently approaching the psychological level of $0.40.
[Technical Analysis: Short positions momentum weakens but trend remains unchanged]
SuperTrend Indicator: On the daily chart, the SuperTrend Indicator still maintains a firm "sell" signal (Sell Rating), and this signal has not changed in the past two months, indicating that the downtrend has not yet ended.
(Santiment)
RSI Indicator: The Relative Strength Index RSI is currently approaching the Oversold Zone, which suggests that there may be potential signs of short positions exhaustion in the market.
Historical Reference: During the bull market in May, both of these technical indicators surged significantly. Therefore, if there is a positive turn, it may indicate a potential reversal of the current downtrend.
Rebound target:
Downside Risk: If the $0.40 support is lost, it will severely weaken the possibility of a rebound and may trigger short positions to dump the Token to a **$0.09 low.
(Source: Coinalyze)
【Market sentiment and derivation data is weak】 The current market atmosphere is also not optimistic:
[Support level game determines direction] In short, the PI price has fallen to its $0.40 historical key support level, which has triggered multiple reversals. Although key technical indicators show that short positions may be nearing exhaustion, whether a strong rebound can be achieved will ultimately depend on the improvement of overall market sentiment. Investors should closely monitor the defense and attack situation at the $0.40 level and the turning signals of market sentiment indicators.
Conclusion: The Pi Network Token PI is currently at a critical price crossroads. The $0.40 support level carries the reversal hope of the bulls, and its gain or loss will become the core basis for judging the short-term trend of Pi coin. Although the RSI Oversold Signal provides the possibility of a technical rebound, weak social activity, negative market sentiment, and a cold derivatives market constitute significant resistance. The August market will be an important test of the historical support validity and the community's confidence in holding coins. Traders need to be prepared for both scenarios: if a successful bottoming rebound occurs, focus on the target levels of $0.67 and $1.00; if the support is broken, then be alert to the risk of a deeper correction.