Pi Network (PI) is up 2.03% in 24 hours, with a commensurate increase in daily trading volume to start the weekend. The team also released a technical update, allowing millions of their users, called “Pioneers,” to complete the mainnet migration.
The post also stated that Pi Network was testing palmprint authentication as a beta feature. The distribution of Validator Rewards was progressing according to the schedule published in December 2025.
Assessing the impact on PI sentiment
Source: PI/USDT on TradingView
These developments have had little positive effect on the IP. An AMBCrypto report from November highlighted that the token was facing bearish pressure. To this day, sellers continue to dominate the highest timeframes.
The CMF was at -0.06 and has not exceeded +0.05 since the beginning of December. This shows that selling pressure was prevalent and a significant flow of capital out of the IP market was the norm.
The MACD formed a bearish cross almost two weeks ago on this time frame, signaling another bearish impulse. As things stand, momentum remains firmly bearish.
The possibility of a price rebound
Source: PI/USDT on TradingView
Using the decline from $0.216 to $0.150 in January, a set of Fibonacci retracement levels was plotted. They showed that there was a chance that prices would rebound towards $0.19-$0.20, where the 61.8% and 78.6% Fibonacci retracement levels were.
The MACD was climbing towards the zero line to show a short-term uptrend, but over the last three trading sessions of the fourth half, the Pi Network token faced a significant setback from the $0.173 supply zone.
Should traders be looking to sell?
It is unclear whether PI will manage to climb back above $0.17 in the coming days. This is a possibility that traders should remain prepared for, but the available evidence does not warrant anyone seeking to go long except scalp traders.
A retest of the $0.20 retracement level will provide a much better risk-reward short selling opportunity than current market prices. A rally beyond $0.216 is needed to change the bullish bias of swing traders.
Final Thoughts
- Pi bounced all the way to the $0.17 supply zone on Friday and into the early hours of Saturday before witnessing a rejection.
- The higher time bias remained firmly biased, and a price rebound towards $0.20 would likely be liquidated.
Disclaimer: The information presented does not constitute financial, investment, business or other advice and represents the opinion of the author only.
