Pi Network rebounds, eyeing further upside momentum

Pi Network (PI) posts a 4% rebound on Wednesday, snapping a five-day consolidation phase. The renewed buying interest is reflected in the Relative Strength Index (RSI), which has climbed to 34 — resurfacing from oversold territory and signaling easing selling pressure. With more room to grow before reaching the neutral midline, momentum favors the bulls.
Meanwhile, the Moving Average Convergence Divergence (MACD) indicator shows early signs of recovery in the negative zone. Traders are closely monitoring a potential bullish crossover above the signal line, which would confirm strengthening upside momentum. A sustained rise in green histogram bars above the zero mark would further validate the trend shift.
On the upside, PI faces its immediate hurdle at the descending trendline of a falling channel near $0.3210, a level that also coincides with the August 1 low. A breakout here could trigger stronger bullish momentum and open the path for higher targets.
On the flip side, if PI struggles to hold recent gains, downside risks remain. A decisive break below $0.2579 could pave the way for a deeper decline toward the $0.2000 psychological level, where buyers may attempt to regroup.
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