Pi Network (PI) Faces Selling Pressure After April Rebound: Will the Bearish Trend Continue?

Jakarta, Pintu News – After experiencing a price recovery in April, Pi Network (PI) is again facing significant selling pressure. Despite some momentary upward momentum, the underlying trend remains bearish, exposing the uncertainty of price direction in the near term. Recent technical data suggests that the chances of an upward breakout are limited, with a number of indicators reinforcing the prospect of a further correction.

Selling Pressure Still Dominates Despite Recovery

Since the last few weeks, the price of Pi Network has been in a steady downward trend. On the daily chart, the market structure shows a pattern of lower high at $0.84 (around IDR14,129) and lower low at $0.52 (around IDR8,746) (exchange rate IDR16,820/USD). These two levels are key to determining the next price direction.

Meanwhile, the Money Flow Index (MFI) indicator, which was previously in oversold territory, has now approached the overbought zone. This indicates stronger capital inflows in the past two months. However, the Accumulation/Distribution (A/D) indicator is still showing a downtrend, although the decline slowed in April. This suggests that buying volumes remain low, so the signal from the MFI may not fully reflect the true strength of the market.

Also Read: XRP Current State: Price Consolidation and Potential Breakout Amid Ripple and SEC Deal

4-Hour Timeframe Analysis: Crucial Support in Sight

On the 4-hour chart (H4), the analyst applied Fibonacci retracement to gauge the price movement after the sharp spike on April 5. Currently, the price of PI is moving close to the 50% retracement level at $0.595 .

The MFI on this time frame stands at 23, just slightly above oversold territory. This signals continued selling pressure. The A/D indicator on H4 also shows a further downward move in the last two days, which coincides with the break of the bearish market structure below $0.71 .

In the next few days, the levels of $0.595 and $0.55 (around IDR 9,251) are expected to act as important support zones. If these supports fail to hold, the chances of a deeper correction will increase.

Rebound or Deeper Correction?

Although there are technical signs of recovery in the short term, such as a more positive MFI movement on the daily chart, the combination of low buying volume and constant selling pressure suggests that the prospects of a full recovery are still weak.

For a significant trend change, the price needs to convincingly break $0.84 and maintain momentum above that area. Conversely, if the selling pressure continues and the support at $0.595 fails to hold, Pi Network prices could retest the $0.55 area or even lower.

Conclusion

Pi Network (PI) is back under pressure after a modest rebound in April. With a still bearish market structure, low buying volume, and technical indicators trending negatively, investors and traders are advised to exercise caution in making decisions. Monitoring the movement at key support levels is important to determine whether PI will start a consolidation phase or continue its downtrend.

Also Read: XRP Price Outlook After Ripple and SEC Lawsuit Settlement

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*Disclaimer

This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Trading crypto carries high risk and volatility, always do your own research and use cold hard cash before investing. All activities of buying andselling Bitcoin and other crypto asset investments are the responsibility of the reader.

Reference:

• AMBCrypto. Pi Network After April Bounce: Price Faces Uncertainty, Will Bears Prevail?. Accessed April 17, 2025.
• Featured Image: Bitrue