Can Pi Network extend 6% rally and reclaim $0.30 next? Examining…
Pi Network [PI] token was up 6.3% in the past 24 hours, compared to the 1.09% slump Bitcoin [BTC] witnessed. The crypto market as a whole saw a 1% decrease in its market cap, making PIs gains stand out. Source: PI/USDT on TradingView On the 1-day chart, the bearish long-term trend has not been overthrown. To achieve this, the bulls will need to make new swing lows. As things stand, the $0.2917 resistance level has rebuffed their efforts. A daily session close above $0.299 is needed to flip the structure bullishly. The technical indicators on this timeframe signaled a shift toward buying pressure. The CMF climbed back above +0.05 to indicate sizeable capital inflows. At the same time, the MACD advanced toward the zero line and was about to make a bullish crossover. The changing buyer pressure and momentum were a healthy sign, but it remains to be seen if the rally can sustain itself. The lower timeframe PI charts give hope for a rally beyond $0.20Source: PI/USDT on TradingView The bearish structure (orange) broke into a bullish structure (green) on the H4 chart on Thursday, the 16th of April. Traders plotted a set of Fibonacci retracement levels using the swing move that followed this break. Over the past