- PI price rebounds after dipping below $0.575, signaling strong buyer reentry.
- Resistance at $0.610 holds, but momentum hints at a possible breakout soon.
- RSI and MACD indicators confirm early bullish signals despite volume decline.
Pi (PI) cryptocurrency showed a resilient recovery on April 12, reversing earlier losses and ending with notable intraday gains. The asset began the day under pressure, dropping below key levels before buyers regained control. This recovery occurred even as trading volume declined significantly.
The combination of bullish signals from technical indicators and renewed buying interest could shape the price direction in the short term. Consequently, PI appears to be building momentum for another test of resistance levels.
Dip Below $0.575 Triggers Rebound
PI opened the day near $0.5929 and initially followed a bearish path. Selling pressure pushed the price below $0.575, marking the session’s lowest level. However, this area acted as a strong support zone, triggering renewed buying interest.
From that point, the price rebounded and formed a consistent upward trend. This change suggests that buyers stepped in at lower levels, likely viewing the dip as a buying opportunity.
Additionally, the $0.590 level served as a secondary support zone. After bouncing off the low, the price briefly consolidated around this range before resuming its climb. This movement reinforced $0.590 as a pivot zone that traders may watch in upcoming sessions.
Resistance Near $0.610 Holds Firm but Could Be Retested Soon
PI reached $0.6097, recording a 3.06% gain. This level aligns with a near-term resistance between $0.609 and $0.610. Sellers appeared to defend this zone, halting further gains. Moreover, the $0.600 level acted as an earlier resistance before being surpassed, showing that psychological round numbers are affecting price behavior.
Hence, if buying momentum continues, the $0.610 level may be tested again. A clean break above could open the path toward higher targets in the short term.
Technical Indicators Signal Momentum Shift Toward the Bulls
Despite a sharp 43.89% drop in daily volume to $160.7 million, PI’s price climbed higher. This contrast suggests low-resistance selling or stronger buyer conviction. The volume-to-market cap ratio stood at 3.79%, showing moderate activity.
Significantly, the RSI showed early signs of bullish momentum. At 39.56, it remained below 50 but was trending higher. The MACD indicator confirmed a bullish crossover, with the MACD line rising above the signal line. Additionally, the histogram turned green, further supporting the bullish shift.
