Pi Network Price Drama: Bears Are Out for Blood – Will the Bulls Even Show Up?

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  • The pressure on Pi Network is relentless, even after a brief, somewhat laughable April “bounce.”
  • Perhaps, just maybe, there’s a flicker of hope for the bulls if they manage to break the nearest support levels with a bullish divergence on the 4-hour MFI. But don’t hold your breath.

Ah, Pi Network [PI], a once-proud contender that has spiraled into a steady downtrend over the past few weeks. A faint glimmer of hope appeared in April, but one must wonder—was it merely a brief illusion of recovery? Or could it be that the bulls are quietly plotting a daring escape past the looming resistance, that ever-present symbol of despair?

Let’s face it: The chances of Pi Network showing any real uptrend are slimmer than a church mouse on a treadmill. But of course, what is life without a little hope, right? 😂

Is there any chance left for Pi’s price to rise? Spoiler alert: Not likely.

On the sacred 1-day chart, behold the orange markings of fate: the lower high at $0.84 and the lower low at $0.52. These are the crossroads of destiny, where the market will break in one direction or another. But truly, at this rate, do we even care which way it goes? 😅

At this moment, crossing either of these levels will give us a glimpse of the future for Pi Network. Will it shoot to the stars? Or plummet into the abyss? Time, my friends, will tell—or perhaps we’ll just sit here and stare at our screens hoping for something miraculous.

The technical indicators, as always, have their own opinions. The MFI, once buried in the depths of oversold territory, has crawled back toward the overbought area, signaling… something. Perhaps. It could be that the bulls are gathering their forces, or it could just be wishful thinking. Either way, it’s something to look at.

But, and this is a big but, the A/D indicator refuses to follow suit. It’s still making its steady descent, though thankfully it has slowed down a bit in April. Small mercies, right? This means that, despite the MFI showing signs of life, there’s still a lack of genuine buying volume. Oh, the joys of misinterpreted signals.

Let us zoom in, shall we? On the 4-hour timeframe, behold the sacred Fibonacci retracement levels, plotted with all the precision of a caffeine-addled trader after too many Red Bulls. Based on the sharp price bounce from Saturday, April 5th, these levels point to the 50% retracement at $0.595. Will it hold? Perhaps. Will it offer salvation? Who knows, really. 🤷‍♂️

At the time of writing, the price is flirting with that 50% level, but the MFI on the H4 chart is in a sad state, below 50 and languishing at 23. It’s not even trying to pretend it’s bullish. No, it’s sending a clear message: bearish momentum is still very much alive. The A/D indicator is also continuing its slow, agonizing decline. It’s like watching a trainwreck in slow motion.

The icing on the cake? The price has already broken below $0.71, as the bears took over and dragged it lower. Now, we look to $0.595 and $0.55 as potential support levels. Will they hold? They’d better, because if they don’t, things could get even messier than a toddler’s art project.

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2025-04-17 04:15