📉 Bitcoin Price Forecast: Consolidation Persists
07 Aug 2025
07 Aug 2025
Pi Network Flashes Bullish Reversal Signals
Pi Network is showing early signs of a bullish reversal, appreciating more than 1% intraday, while continuing its consolidation within a sideways channel defined by the S1 and S2 pivot levels, currently at $0.3642 and $0.3191, respectively.
This price action suggests that the path of least resistance in the short term is upward, with the immediate target being a confirmed close above the S1 pivot level. If successful, this could trigger a stronger bullish push toward the central pivot level at $0.4461, potentially setting up PI for an extended recovery.
Momentum Indicators Signal Reversal Potential
One of the most notable technical indicators supporting a possible bullish turnaround is the Relative Strength Index (RSI), which now reads 26 on the daily chart. This places the token firmly in oversold territory, often seen as a precursor to price rebounds — especially when paired with waning selling pressure.
In addition, the MACD (Moving Average Convergence Divergence) adds further weight to the reversal narrative. The MACD line is inching closer to the signal line, while the declining red histogram bars suggest a gradual loss in bearish momentum, hinting at an imminent bullish crossover.
Key Levels to Watch
Immediate Support: $0.3191 (S2 pivot)
Resistance to Watch: $0.3642 (S1 pivot)
Bullish Target: $0.4461 (Central pivot)
Bearish Risk Level: $0.2372 (S3 pivot, in case of breakdown)
Conclusion
Pi Network’s recent price activity, combined with technical indicators such as oversold RSI and converging MACD lines, signals a high potential for a short-term bullish reversal. However, failure to hold above the $0.3191 support could invalidate the bullish thesis and open the door for deeper losses toward the S3 pivot.
As always, traders are advised to monitor price action closely and employ proper risk management, particularly in highly volatile assets like PI.
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