Sellers Exhausted as PI Coin's Technicals Signal Potential Rebound

PI Coin, the native token of the Pi Network, has rebounded from a record low of $0.1533 following last week's market downturn, with technical indicators suggesting early signs of a potential bullish reversal. Over the past three days, the token has shown steady gains despite broader bearish sentiment, as traders begin to re-enter the market. The Elder-Ray Index, a momentum indicator, has seen its red bars shrink, signaling a reduction in sell-side pressure. As of the latest data, the indicator stands at -0.0482, a trend that historically precedes bullish reversals when supported by other indicators PI Coin Rebounds From Record Low, Shows Early Signs of a Bullish Reversal^[1].

The Balance of Power (BoP) indicator further reinforces this optimism. PI's BoP reading is currently at 0.59 and trending upward, reflecting growing buy-side conviction among traders. BoP values closer to +1 indicate strong buying pressure, and PI's trajectory suggests a gradual return of bullish sentiment. This aligns with the Elder-Ray Index's weakening bearish momentum, creating a technical setup that could catalyze a short-term rally PI Coin Rebounds From Record Low, Shows Early Signs of a Bullish Reversal^[1].

On-chain and volume-based signals also point to potential accumulation. The On-Balance Volume (OBV) indicator has shown a synchronized rise with PI's price action in recent weeks, confirming that buying volume is supporting the uptick. However, OBV must surpass its previous peak of -1.57 billion to validate a sustained bullish trend Pi Coin Reversal in Sight? 3 Bullish Patterns Suggest It Might Be^[2]. Meanwhile, the Relative Strength Index (RSI) has displayed divergence, with PI's price forming lower lows while RSI prints higher lows. This hidden bullish divergence suggests weakening bearish pressure, though a close above the 52 RSI level is needed to confirm the reversal Pi Coin Reversal in Sight? 3 Bullish Patterns Suggest It Might Be^[2].

Candlestick patterns add further weight to the bullish case. A green inverted hammer formed on July 28, a pattern often associated with potential reversals. While buyers pushed intraday highs, the close above the open (green body) indicates some strength. Confirmation above the wick high of this pattern would strengthen the case for a sustained rebound Pi Coin Reversal in Sight? 3 Bullish Patterns Suggest It Might Be^[2].

Despite these positive signals, risks remain. If PI fails to maintain its upward momentum, it could retest its all-time low of $0.1533. Conversely, a breakout above the $0.2573 resistance level could target $0.2917, according to technical analysis PI Coin Rebounds From Record Low, Shows Early Signs of a Bullish Reversal^[1]. Exchange reserves for PI have surged by over 40% in two months, raising concerns about hidden selling pressure. Large holders moving coins to centralized exchanges may signal a bearish bias, though the RSI divergence offers a counterpoint to this pessimism Pi Coin Price Faces Sell Pressure Hinting at a Quiet Whale Trap^[3].

Market structure analysis also highlights a stabilization phase for PI. Sellers appear exhausted, with momentum remaining modestly positive at +2.00%. The DMI spread (22.7/34.2) and moderate ADX readings indicate a weakening bearish trend. A long-position strategy is advocated if PI holds above $0.6403, with secondary resistance at $0.6547. Protective stop-losses below $0.6277 are recommended to manage downside risk Pi Coin Price Analysis: Signs Of Reversal And Forecast^[4].

Analysts remain cautious about PI's long-term potential. While some predict a price surge to $107.98 by year-end 2025, others emphasize the token's volatility and dependence on broader market conditions. The mainnet launch and ecosystem development are critical milestones that could influence its trajectory Pi Coin Price Analysis: Signs Of Reversal And Forecast^[4].