Pi Network (PI) Price Analysis: "Bullish Crossover" Signal Emerges, Validating Early Bullish Signs for Pi Coin

Pi Network (PI) today (11) maintains its upward trend during the Asian afternoon session, continuing to oscillate around $0.5184. The Pi coin has issued its first significant bullish signal since the beginning of this month, with this price increase stemming from a recovery in overall market sentiment, which has sparked speculation about a potential bullish reversal. As long positions regain control of the short-term trend, the technical indicators currently reflect a continuous increase in buying pressure.

PI coin MACD signal bullish reversal

Crypto analyst Maxwell Mutuma stated that the moving average convergence divergence (MACD) chart for Pi coin has just issued its first bullish crossover signal of the month. The MACD line crosses above the signal line, indicating that market momentum has shifted from a downtrend to an uptrend. Traders often use this trend to identify early bullish trends.

Although both lines are below the zero line, the crossover reflects that the selling pressure has eased, and bullish interest has picked up. Since July 1, the PI coin has been in a downtrend, with weakening momentum. This crossover breaks this pattern and strengthens the possibility that if the support level holds, the PI coin will further pump.

Moreover, the change in MACD coincides with the resurgence of optimistic sentiment in the altcoin market, boosting market sentiment for smaller assets. PI coin benefits from this wave of increase and is currently trying to establish a new short-term trend. A continuous price stability is needed to confirm the bullish pattern.

(PI coin MACD, source: Trading View)

"Power Balance" Supports Buyer Strength

The Balance of Power (BoP) indicator for Pi 幣 is currently at 0.61, supporting its continued bullish trend. A positive BoP value indicates that the buying power currently exceeds that of the sellers, controlling the short-term trend. This level is one of the strongest levels of buying power since the beginning of this month.

The strengthening of the BoP index of Pi Network is consistent with the recent price pump and the weakening of downward pressure. Combined with the MACD crossover, the current pattern enhances the expectation of further bullish movement. However, sustained demand is needed to maintain growth momentum.

The current price is still below the resistance level of $0.477, with the next upward target around $0.508. If the PI coin breaks through that level, the previous resistance may turn into a new support. This transformation would boost market confidence and validate early bullish signals.

(PI coin BoP technical indicator, source: Trading View)

Bullish signals are rising but demand lags behind

Pi coin must create more demand to break through the short-term range and maintain its pump above the 0.477 USD resistance level. Although the technical indicators have shown positive changes, the token still faces ongoing supply pressure, which may slow its upward momentum. A clear breakthrough of the resistance level would enhance bullish momentum.

If demand fails to rise further, the PI coin may face a price drop again and re-enter a consolidation mode. If the current level cannot be maintained, the price may fall back to the support level of $0.445. As of now, the technical indicators are bullish, but demand must follow suit.

As new trends may form, market observers will closely watch whether Pi coin can maintain this transformation. The MACD and BoP technical indicators show that bullish momentum is returning after several weeks of weakness.

(Source: Trading View)