Pi Network Token PI continued its rebound this week, with the price once again reaching $0.098. Previously, PI found support near the 50-day moving average, and the market trend also coincided with the recent efforts by the project team to promote developer ecosystem development.
Continue to rebound within the week
PI has risen by more than 3% since this week, and had already increased by 5.2% in the previous week. The report mentioned that PI stopped its decline near its 50-day moving average of around $0.094 earlier on, and then resumed its upward trend.
From a short-term perspective, this level has temporarily become a support zone of interest to the market. If the price continues to remain above it, buying pressure may further test higher levels above this zone.
Project parties strengthen developer support
Pi Core Team recently stated on the X platform that supporting developers is an important part of expanding the value of web applications. The team believes that the products, services, and digital experiences provided by developers are the main entry points for community members to actually use Pi Network.
Pi Network has also released clearer development documentation to help developers understand how to build applications within its ecosystem. The project team hopes to attract more applications by improving the development environment, thereby enhancing the practical use cases of PI.
However, whether the updates to development tools and documentation can truly be translated into continuously active applications still depends on the subsequent level of developer participation and user usage.
There is still pressure from the moving average above.
Although the short-term momentum has improved, PI is still below the 100-day and 200-day moving averages. Reports indicate that these levels are around $0.106 and $0.143 respectively, and they continue to exert pressure on any larger-scale rebound.
It is mentioned in the text that the Relative Strength Index ( RSI ) is around 63, which is higher than the neutral level of 50, indicating an increase in buying momentum, but it has not yet entered the commonly considered overheated range. The MACD indicator has also turned slightly positive, reflecting an improvement in short-term sentiment.
- 50-day moving average is approximately $0.094.
- The first major resistance level above is around $0.106.
- Higher resistance level at around $0.118
If it falls below $0.094, PI might revisit the $0.086 range; if that level cannot be held, an even more important support level is around $0.075.
Overall, the trend of PI has improved over the past two weeks, but a more significant reversal signal still needs to be confirmed. Moving forward, the market will focus on whether the developer ecosystem can continue to support the demand for tokens, as well as whether the price can break through the pressure of the upper key moving averages.
