Pi Network (PI) IOU price, which represents the pre-market valuation of PI before its official launch, has been highly volatile as anticipation builds. As one of the most hyped crypto launches ever, Pi Network’s Open Network is set to go live on February 20, leaving users questioning what its actual launch price will be.
Recent technical indicators suggest that PI IOU is at a crucial point, with both trend strength and momentum showing potential signs of weakness. Whether the price will break down further or stage a strong rebound remains the key question for traders ahead of the mainnet launch.
PI DMI Shows a Strong Downtrend Could Appear
Pi Network is attracting a lot of hype before its official launch, with its search interest reaching new highs. From a technical perspective, its DMI chart for PI shows its ADX at 45.2, down from 55.8 yesterday. ADX (Average Directional Index) measures trend strength, with values above 25 indicating a strong trend and below 20 suggesting weakness.
A reading above 50 often signals an overheated trend that could slow down. While PI’s ADX remains strong, its decline suggests the trend is losing some momentum but is still intact.
+DI has dropped sharply from 55.5 to 23.6, while -DI has risen from 3.3 to 16.5. This shift indicates weakening bullish pressure and increasing bearish strength, which could lead to more corrections, though buyers still hold an edge.
PI’s EMA lines remain in a bullish setup, with short-term lines above long-term ones, reinforcing the broader uptrend. However, if ADX keeps falling and -DI overtakes +DI, it could signal a trend reversal or consolidation ahead.
PI RSI Is Down After Touching 86
Pi Network RSI is currently at 40.5, dropping from 86.2 two days ago after spending over a day above 70.
The Relative Strength Index (RSI) measures momentum on a scale from 0 to 100, with values above 70 indicating overbought conditions and below 30 suggesting oversold levels.
A sharp decline like this often signals weakening buying pressure and a potential shift in market sentiment, as some exchanges, like Binance, have been relying on community votes to decide whether to list the asset.
With PI’s RSI now at 40.5, it suggests the asset has lost significant bullish momentum but hasn’t yet reached oversold territory. This level implies that sellers are in control, but price action remains uncertain.
If RSI continues to drop toward 30, it could indicate further downside, while a stabilization around 40 might suggest consolidation before the next move.
PI Price Prediction: Current Price Aligns With Potential Launch Price
Pi Network EMA lines remain bullish, with short-term lines still above long-term ones, but they are declining quickly as the PI IOU price has dropped over 8% in the past 24 hours.
If this downtrend continues, a death cross could form, a bearish signal that often precedes further declines.
If a death cross occurs, PI IOU could test the $53.3 support, and losing that level could send it as low as $33.6.
However, if the price rebounds, it may target resistance around $100, a potential 38% upside from current levels.
This aligns with a recent technical perspective from BeInCrypto discussing Pi Network’s possible launch price.
Disclaimer
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