The Pi Network (PI/USD) is expected to see a possible recovery following several months of bearish gains, as the cryptocurrency remains in a popular support area between $0.53 and $0.40. This critical price floor once formed a launching pad for a significant bullish turnaround in April and might, again, prove a defensive ceiling.
Having reached a high of close to $3.00 in early 2025, PI/USD has been languishing in a relentless multi-month descending triangle, composed of lower highs and a resistance trendline that constantly derails any positive pressure toward the bullish side. This recent trend is seen in the chart analysis where prices were stuck along the lower margin of the triangle, yet in a historically meaningful demand field.
Pi Eyes Relief Rally as RSI Mimics April Rebound Pattern
Looking more closely at the RSI (Relative Strength Index), a recognizable pattern can be seen, which indicates that history is about to repeat itself. In early April, the RSI entered the oversold zone (close to 30) but then promptly retraced, crossing over the moving average and resulting in a bullish rally that temporarily moved prices above the 1.00 figure.
PI Chart (Source: TradingView)
The same setup is unfolding now, strengthening the current Pi Network (PI) price prediction narrative. As of press time, RSI has again touched the oversold region, bottomed out, and is curling upwards, hinting at a potential bullish divergence. Analysts have also marked the $1.01, $1.69, and $2.00 levels as Fibonacci-based resistance targets if a reversal plays out.
A shift beyond the declining line and the resistance arena would validate a breakout, although first, the token’s price has to close unequivocally above 0.60 to break the existing bearish grip. The current price is around $0.5577, marking a 1.81% daily drop and a roughly 14% weekly loss.
Nevertheless, the objective price action setup has the attention of traders, and under the surface, the bulls are gaining increasing momentum. Provided the RSI dynamics keep reflecting the scenario in April, there may be an impending relief rally.
PI’s Funding Rate Recovery Signals Growing Bullish Bias
Coming to the potential bullish argument, the recent on-chain metric reveals a significant change in the PI OI-weighted funding rate. After remaining profoundly negative throughout mid-March—reaching lows near -0.12%—the metric has now surged, approaching neutral territory and nearly crossing into the positive zone.
PI OI-Weighted Funding Rate (Source: CoinGlass)
This turnaround indicates a cooling of bearish sentiment and a possible influx of long interest. Such a sharp change in funding dynamics often precedes trend reversals, especially when paired with technical indicators pointing to a rebound. The shift implies that traders are beginning to unwind short positions or are cautiously positioning for upside movement.
This aligns with the current RSI pattern and price consolidation at key support levels. With funding rates recovering and prices stabilizing, conditions may be aligning for a momentum shift.
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