Pi Network Hovers Near $0.36 Key Support-Resistance Level Amid Volatility

The Pi Network token has seen a significant price correction in recent weeks, with the price falling to levels near $0.35 and drawing heightened attention to the $0.36 level. This threshold has emerged as a key focal point for traders and investors, as it has historically acted as both support and resistance. A break above this level could signal a potential stabilization or even a short-term rally, while a failure to hold could lead to further declines [1].

Following a sharp rally earlier in August that briefly lifted Pi above $0.46, the token has since experienced consistent selling pressure. Current hourly chart data shows Pi trading just below $0.35, with the Relative Strength Index (RSI) at 34, indicating near-oversold conditions. However, the lack of strong buying follow-through has raised doubts about the sustainability of any potential rebound [2]. Meanwhile, the MACD continues to show bearish signals, reinforcing the idea that the market is struggling to regain upward momentum.

The $0.36 level holds particular significance for Pi Network, as it represents a psychological and technical crossroads. Earlier in the month, it functioned as resistance before briefly flipping to support. Traders are now viewing it as a critical inflection point. A clean breakout above $0.36 could allow Pi to test $0.40 in the short term, while a failure to maintain this level could send prices back toward $0.32, with the psychological $0.30 mark posing the next major support [3].

In the broader market context, Pi’s struggles reflect a wider trend of weakness among altcoins. While Bitcoin remains near record highs, smaller tokens like Pi have shown signs of exhaustion. Given the ongoing questions about Pi Network’s real-world utility and adoption, the absence of new catalysts leaves the token particularly vulnerable to sharp price swings [1].

Looking ahead, three primary scenarios are being discussed among market participants. In a bullish case, a reclamation of the $0.36 level and sustained movement above it could trigger a short-term rally toward $0.40. A broader recovery in altcoins would likely strengthen this scenario. On the bearish side, a failure to break above $0.36 could lead to further downside, with $0.32 and $0.30 as potential targets. A neutral or base case suggests Pi may remain in a consolidation phase between $0.33 and $0.36, waiting for a clearer direction [2].

With August coming to a close, all eyes are on the $0.36 level as a potential battleground for Pi Network’s next move. Short-term traders are closely monitoring this threshold, while long-term investors await signs of stronger adoption and ecosystem growth to justify renewed bullish sentiment [3].

Sources:

[1] Coindoo: https://coindoo.com/pi-network-price-crash-why-investors-are-watching-the-0-36-level-closely/

[2] Coindoo: https://coindoo.com/pi-networks-big-secret-what-theyre-not-telling-you-about-its-real-value/

[3] investx.fr: https://investx.fr/en/crypto-news/pi-network-0-36-dollars-buying-opportunity-post-hackathon/