Pi Network’s price has been volatile in recent weeks, breaking the $0,35 support level and turning it into resistance. Despite this breakout, bulls have stepped up their efforts to defend the $0,26 support zone, where price action is currently attempting to stabilize.
As the RSI registers extreme oversold readings, the conditions are reminiscent of previous setups that have caused strong bounces in Pi’s history.
The recent decline on the Pi Network began with a loss of $0,35, a level that had previously been a key selling point for buyers. After breaking through, it quickly became a resistance level, limiting any upward movement and increasing bearish pressure. This triggered a volatile downward movement, during which bulls were forced to act aggressively to defend the next significant technical level.
The support zone at $0,26 has come into focus. Several lines converge at this level, making it a likely candidate for a structural bottom. The price tested this level and managed to hold, indicating demand in this range despite the overall weakness.
If this level holds and the volume increases, token could rise to $0,35. Conversely, a loss of $0,26 would lead to the emergence of lower support levels and an extension of the bearish trend.