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Price forecast for Pi Network (PI) on August 11
The price of the Pi coin is currently trading around $0.413, having decreased by more than 4% over the day after a sharp pullback from the resistance zone of $0.46. This area coincides with a four-hour supply block and the upper Bollinger Band, creating strong overhead pressure. The pullback occurred after several days of rallying from the low of $0.326, where buyers executed an aggressive breakout through short-term resistance.
On the 4-hour chart, the rally pushed the price above the 20 EMA ($0.391) and the 50 EMA ($0.384), but sellers defended the 200 EMA at the level of $0.4287. The deviation sent the PI back to the middle line of the Bollinger Bands ($0.4402), which now acts as immediate resistance.