Pi Network Price Forecast: PI extends consolidation as bulls eye $0.10

Pi Network (PI) price holds steady on Friday, maintaining a consolidating tone for three consecutive days. Mild retail strength in the PI token remains stable, with Open Interest above $9 million, while social buzz eases. PI token’s technical outlook is mixed, as bearish momentum wanes to neutral, with bulls eyeing the $0.1000 psychological level.

Demand holds steady for Pi Network

Pi Network price remains reactive to speculative demand, including positional buildup in PI futures and social chatter. On the derivative side, CoinAnk data shows a broadly stable PI Open Interest (OI) at $9.18 million, holding above $9 million so far this week. 

However, the social buzz surrounding the PI token is easing. Santiment data shows the Social Dominance and Volume are down to 0.01% and 9, respectively, from the 0.04% and 17 peak on Wednesday.

Technical outlook: Will PI token rebound?

Pi Network trades at $0.0890 on Friday, well below the broken $0.1000 psychological level, keeping the broader tone bearish despite recent stabilization. From a technical perspective, PI holds above a crucial support cluster of the broken declining trendline near $0.0800 and the 78.6% Fibonacci retracement of the downswing from $0.13410 to $0.07032, at $0.08397.

A slip below this support cluster could extend the decline to the recent swing low of $0.07032.

The Moving Average Convergence Divergence (MACD) holds an upward trend, rising toward the zero line with a modest positive histogram, while the Relative Strength Index (RSI) hovers near the neutral 50 mark, suggesting that downside pressure has paused but that bulls still need to overcome substantial overhead supply to shift the trend.

A potential rebound in PI must clear the $0.1000 round figure and the 50% retracement at $0.10221 to reinstate a bullish trend.

(The technical analysis of this story was written with the help of an AI tool. Know more.)