Pi Network Price Finds Stability at $0.20: Can It Spark a Bullish Recovery?
Pi Network’s (PI) price has stabilized near $0.20 after a strong bounce. this level is now seen as a major support, thanks to a Swing failure Pattern (SFP). An SFP occurs when the price dips below a previous low before reversing sharply. This pattern often signals the end of a sell-off and the start of a potential recovery.
Traders are watching closely to see if this support can hold.If it does, the price could move toward $0.26. However,consistent buying volume is crucial for sustained growth.
Key technical points include:
- High-Timeframe Support: $0.20 acts as a major support level.
- SFP Confirmation: The price’s dip below the previous low confirmed an SFP,signaling buyer re-entry.
- Upside Targets: Holding above $0.20 could led to the value area low and the 0.618 Fibonacci resistance.
the consolidation above $0.20 shows that demand is returning. If this level holds,it could lead to a gradual move toward higher resistances. The next critical region is the value area low, which aligns with a important volume cluster.
for a meaningful move, bullish volume must increase. Without it, the price may stay in a sideways range. Provided that Pi Network holds above $0.20,the outlook is cautiously bullish. A series of daily closes above this level would confirm stability and increase the chance of a move toward higher resistances.
