Pi Network (PI) Price Predictions for this week

PI bulls were able to defend their recent gains as they aim higher.

PI Network (PI) Price Predictions: Analysis

Main support level: $0.15

Main resistance level: $0.20

PI Breakout continues

After the price of PI broke out of its downtrend, buyers were able to protect the price below $0.15 and push it higher despite the recent pullback. This shows that the bulls are determined to stop the downtrend and begin to recover some of the recent losses.

As long as support is held at 15 cents, the PI price action is high, paving the way to test resistance at 20 cents. If this also breaks later, the price could rise faster and reach 30 cents in the future.

The return was successful

The recent retracement broke just above the broken trendline and confirmed an upside bias. Furthermore, the PI has been in the green for the past two weeks, increasing confidence in the continuation of this price action.

As sellers have dominated for months in a row, it’s no surprise to see the cryptocurrency finally have a sustained rally of relief as it aims to recover above 20 cents and beyond.

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A spike in Volume Confirms the Return Purchase

The increase in buying volume on February 15 was significant and confirmed a major bullish reversal. The fact that this was followed by sustained buying pressure and lows suggests that the bulls are coming back. It is not clear how long they will be able to do this.

For this reason, watch carefully how the price reacts at the 20 cents resistance, as this will be the decisive level for where the PI will go. Hopefully, buyers can turn this into a support that allows them to aim higher.