The price of the PI network finally broke through some of the key resistance levels yesterday and now shows early signs of short-term shift. After several sessions moving sideways, the price jumped and now floats about $ 0.6297, which is almost 9%in the last 24 hours. This breakthrough attracted the attention of traders, although many are still cautious because the technical indicators send mixed signals.
Currently, the zone has slipped into the support area of $ 0.59 and $ 0.60 and all eyes are about $ 0.66 on the next obstacle. Whether this breakthrough holds or loses steam is likely to become clearer over the next few hours.
Analysis of PI coin chart
In the diagram of the day, the price of the PI coin has broken over a shrinking trend line, which had been pressurized since March. Bullish daily candle from May 8th has also closed a mother for over a 9-day, which adds even more power to this move. This technical breakthrough can indicate the beginning of the trend shift if the bulls can maintain control.
The area is $ 0.56-0.59. This level was tested several times over the last few weeks and the buyers consistently protected it. The next challenge is to pass $ 0.66. If the price is not more than $ 0.60, the support may fall back to the support range.
Hour candles lead to May 9 show hesitation after breakthrough. Although buyers took a strong step, the market is still digested. Whether the bulls are monitored or not depends on the volume and momentum of the next few sessions.
Technical indicators
Here is an overview of the current lesson of the PI coin price:
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| Indicator | Value | Signal | What does it recommend |
| Macd | -0.031 | Bearing | The momentum is still weak under the signal line |
| Cci | 39.01 | Neutral | There is no strong direction, the market is undecided |
| Ultimate oscillator | 51.2 | Mild bullish | Buyers have a small advantage |
| Roc | -3.135 | Bearing | The price has pulled back a little after the push |
| The power of the bull/bear | 0.0202 | Bullish | Bulls show signs of strength |
| RSI (14, 1h) | 47.08 | Neutral | The momentum is in balance, no clear trend |
The indicators are mixed. MACD and ROC remain coarse, while the ultimate oscillator and bullpower indicate the slight interest of buyers. RSI and CCI remain in the neutral zone, showing that the momentum is built but not yet decisive.
Predict of PI coin price for May 9
To date, PI coin can try again with a $ 0.66 resistance level if the price is more than $ 0.60. A clear step with a volume of more than $ 0.66 can open the road to the $ 0.70-0.75 range.
On a negative sideIf the price of Pi coin falls below $ 0.59 is a danger Drop again for $ 0.56. The step below to cancel the breakthrough and focus $ 0.52.
The outlook remains in a neutral somewhat bullish if the price is over $ 0.60. Carefully look at the $ 0.66 level – it is likely to determine whether this breakthrough may continue upwards.
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