PI tests breakout above long-term resistance as selling eases: Pi Network Price Forecast

• Monday sees Pi Network edge up as it tests a bullish break above a long-term resistance trendline.
• 36 is the latest Fear and Greed Index reading, down from 43 last week as risk appetite weakens.
• Recovering momentum gives the PI token a modest upward bias in its technical outlook.

$0.0788 is the long-term resistance trendline level under test. Pi Network (PI) is trading higher on Monday as it tests a bullish breakout above that line. Bearish sentiment across the broader market is dampening demand for altcoins. The Fear and Greed Index has fallen to 36 on Monday from 43 last week. Strengthening momentum gives the PI token a modest upward bias in its technical outlook.

Pi Network Retail Interest Strengthens Despite Weak Market Sentiment

Fresh positions in Pi Network derivatives point to a revival in trader interest, even as broader market demand remains subdued. According to Blockworks data, PI futures Open Interest (OI) has risen from $7.91 million last week to $8.55 million, signalling a higher notional value of outstanding contracts. This increase reflects traders’ expectations of further spot price gains, which could develop into a breakout rally.

By contrast, a reading of 36 places CoinMarketCap’s Fear and Greed Index in the “Fear” zone. It points to subdued investor sentiment after the recent Binance hack, in which $6 billion was stolen and Bitcoin (BTC) was briefly driven below $77,000 last week.

$0.0788 Resistance: PI Token’s Technical Breakout Test

At press time, Pi Network is trading at $0.0784. A long-term resistance trendline linking the highs of 20 June and 30 September caps the price around $0.0788. PI also remains below both 50-day Exponential Moving Averages (EMAs), at $0.0828 and $0.1114, respectively.

On the daily chart, a recovery in momentum is emerging. The Moving Average Convergence Divergence (MACD) has crossed above its signal line while remaining in negative territory. Meanwhile, the Relative Strength Index (RSI), at 45, is climbing from the oversold boundary towards the neutral midline.

If PI confirms a break above the resistance trendline at $0.0788, it could confirm a bullish trend reversal. Potential targets would be the 50-day EMA at $0.0828 and $0.1049, the 50% retracement of the decline from $0.1394 to $0.0704.

On the downside, the low of 15 October at $0.0740 provides the only notable structural support. The Fibonacci anchor near $0.0704 comes next. If selling pressure returns, buyers would be expected to defend the lower boundary of the current range there.

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