Pi Token Consolidates After Breaking Key Support: Can the $0.36 Level Determine Its Next Move?

Overview of Pi Network Trends

Since early July, the Pi coin trend has experienced:

• Starting to gradually fall from the high point of $0.52;
• Accelerated fall at the end of July, reaching a low of $0.321;
• Currently rebounding to around $0.36, but overall still weak.

This indicates that the market has not yet formed effective support after digesting the selling pressure.

Causes of the plummet and characteristics of the rebound

This fall is related to multiple factors:

• The market is undergoing an overall adjustment, with BTC and mainstream coins also experiencing a fall;
• On-chain unlocking events may lead to selling pressure;
• The market lacks confidence in the Pi project in the long term and the progress is unclear.

Although there was a rebound, the lack of trading volume support indicates that the bulls have not fully entered the market.

Key support and technical level assessment

Combine with chart:

• $0.351 is the current short-term lifeline;
• Breaking down will easily trigger a technical sell-off, or quickly test $0.321;
• The resistance above is stronger than $0.370, and a breakout requires an increase in volume.

In terms of indicators:

• RSI is in the 40–45 range, reflecting a neutrally weak sentiment;
• The MACD death cross has not yet converged, continue to be bearish.

Market Depth and Order Book Analysis

From the order book:

• The main buy orders from bulls are between $0.359 and $0.358, with the buying pressure being relatively dispersed.
• Short sell orders are concentrated at $0.36020 and $0.36000, with obvious pressure;
• The market has fewer large orders, with retail investors dominating the situation, reflecting a strong wait-and-see sentiment.

Current transactions are primarily based on “short-term fluctuations and high-frequency trading,” suitable for intraday swing operations.

Market Outlook and Practical Suggestions

Short term: oscillating weakly, it is recommended to focus on conservative operations, with a key observation on the gain or loss of $0.351.

Medium term: If the project team announces substantial applications or plans for mainnet launch, the coin price is expected to gradually recover to the $0.40–$0.45 range.

Risk Control:

• Control your position, don’t be greedy;
• Set an appropriate stop-loss line;
• Do not chase at high positions, ambush in batches at low positions;
• Pay more attention to community dynamics, mainnet updates, on-chain activity, and other signals.