Pi Network price has bounced above $0.08 near the area that supported its summer recovery, but September’s failed rally leaves buyers with a familiar challenge: holding their gains once price moves away from the lows.
Summary
- PI gained 1.74% to $0.08137 on the Oct. 16 daily chart.
- September’s recovery stalled near $0.10 before price returned toward its July support area.
- Crypto With Gopal identified a potential triple bottom requiring a breakout above $0.11.
- Weekly momentum has improved, although daily money flow remains negative.
PI is back in familiar territory. After climbing away from its July lows through August and September, the token has surrendered much of that recovery.
The latest bounce lifted PI to $0.08137 on TradingView’s OKX daily chart on Oct. 16. It traded between $0.07922 and $0.08195 during the session, gaining 1.74%.
Repeated visits to the same floor have attracted attention from the account publishing as Crypto With Gopal. In an Oct. 16 X post, the account identified a potential triple bottom around $0.07–$0.08 and said a breakout above $0.11 could open a move toward $0.16.
The bullish case faces an obstacle visible in the recent price history. PI found buyers near these lows before, but the previous recovery ran out of strength around $0.10. Another bounce would need to push beyond that area to make a stronger case for a reversal.
Pi Network’s first test sits near $0.085
The nearest hurdle is $0.08496, where the daily chart’s 20-day simple moving average sits. PI needs a gain of approximately 4.4% from $0.08137 to recover that line.
A move above the average would be an early improvement. Holding it during a subsequent pullback would strengthen the recovery case before another attempt at September’s highs.
Daily Chaikin Money Flow remained negative at −0.11, suggesting selling pressure persisted despite the bounce. A return above zero alongside a price recovery would provide stronger confirmation than the daily gain alone.
Beyond the average, the upper Bollinger Band stood near $0.094, followed by September’s recovery area around $0.10. Those levels stand between PI and the account’s $0.11 breakout threshold, which requires an advance of roughly 35% from the daily chart price.
The proposed $0.16 target is more distant, at approximately 97% above $0.08137. It remains conditional on the breakout rather than a target established by the current rebound.
Weekly momentum improves while price stays near the lows
The weekly chart offers some encouragement for buyers. MACD stood at −0.02536, above its signal line at −0.02990, producing a positive histogram of 0.00455.
Momentum has improved relative to the signal line, but both lines remain below zero. Weekly Supertrend also stayed bearish, with its resistance line at $0.12449.
The contrast is the most constructive part of the setup: momentum is improving while price revisits support. That supports watching for a base, although the price chart has yet to show a sustained recovery.
PI remained down 1.35% on the displayed weekly chart despite its daily gain. Its weekly low of $0.074 sits about 9% below $0.08137, with the daily lower Bollinger Band nearby at $0.076.
Another retreat through those levels would put the lower end of the proposed $0.07–$0.08 base under pressure. A sustained break beneath that zone would undermine the triple-bottom call.
For the rebound to develop, PI first needs to recover $0.085, then clear the area where September’s rally stalled. Buyers have lifted price from the lows again. The harder test is keeping it there.
Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.
