Selling Pressure Pulls Pi Network Toward Critical Technical Support Pi Network hovers near $0.0900 following a decline of over 3%, as bearish indicators and an overhead moving average cap prompt concerns over a rising wedge breakdown. Pi Network (PI) remains gripped by short-term volatility, hovering around the $0.0900 mark on Friday as traders digest a drop of more than 3% from the prior session. Despite the recent announcement surrounding the Open Standard partnership, selling pressure has resurfaced across the asset. The latest pullback has intensified caution among market participants, with technical indicators reflecting a pronounced bearish tone and warning of a possible breakdown below a rising wedge structure visible on shorter-timeframe charts. Resistance at Moving Averages Caps Upside Examining price action on the four-hour chart reveals that Pi Network is consolidating in close proximity to the clustered 50-period and 100-period Exponential Moving Averages (EMAs) around $0.0900. While these dynamic lines have offered temporary footing, upward traction remains firmly capped by the 200-period EMA situated at $0.0902. The inability to clear this overhead barrier keeps the immediate sentiment tilted to the downside, indicating that sellers maintain control over directional momentum as long as prices trade beneath this zone. Rising Wedge Structure and Key Fibonacci Thresholds From a charting perspective, the gradual advance that began from the mid-September trough around $0.0704 has taken the shape of a rising wedge on the four-hour timeframe. This configuration frequently precedes downward trend breaks when buying volume fails to sustain higher highs. Reinforcing the wedge's ascending support trendline is the 50% retracement level at $0.0891, calculated from the mid-September swing that took prices down from $0.0989 to $0.0804. This confluence serves as a critical demand zone, meaning any definitive decline below it would confirm a pattern breakdown and open the door to a steeper correction. Weakening Momentum Across Technical Oscillators Momentum indicators align with the cautious technical outlook. The Relative Strength Index (RSI) on the four-hour chart stands at 46, resting just beneath the neutral 50 threshold to signal that bullish momentum is steadily fading. In addition, the Moving Average Convergence Divergence (MACD) has slipped marginally below the zero baseline, accompanied by an expanding negative histogram. Together, these readings indicate increasing downside velocity and elevate the probability of a bearish resolution to the current consolidation phase. Crucial Levels Defining Bullish Invalidation For buyers aiming to neutralize the prevailing downward bias, clearing immediate overhead barriers is essential. The first obstacle lies at the 200-period EMA at $0.0902, followed by the upper boundary of the chart pattern near $0.0940. To establish a legitimate and sustainable recovery, the price must achieve a breakout above the 78.6% Fibonacci retracement level located at $0.0946. Securing that milestone would clear technical headwinds and create room for a retest of the $0.0989 swing high. What this means for you Pi Network trading near the $0.0900 mark increases downside risk for short-term traders and asset holders. • For token holders: A break below the $0.0891 support level could trigger a steeper price correction. Holders should assess downside exposure and manage risk parameters accordingly. • For short-term traders: The 200-period EMA at $0.0902 continues to cap short-term advances. Initiating long positions before a verified break above $0.0946 carries heightened technical risk. • Key monitoring zones: Slipping below $0.0891 confirms a breakdown from the rising wedge formation. Conversely, reclaiming $0.0946 is necessary to put the $0.0989 swing high back into view. • Momentum signals: Bearish momentum on both the RSI and MACD suggests selling pressure could persist. Market participants should look for confirmed price reactions rather than anticipating a turnaround. Why this happened The downturn in Pi Network stems from persistent resistance at long-term moving averages and diminishing upside momentum after prior gains. • Moving average resistance: The price was rejected near the 200-period EMA at $0.0902. Repeated failure to overcome this barrier capped bullish progress and invited fresh sellers. • Fading momentum oscillators: The 4-hour RSI dropped to 46 while the MACD slipped below zero with expanding negative bars. These momentum shifts confirm that buyer strength has substantially cooled. • Wedge structure constraints: The recovery from the mid-September low of $0.0704 developed into a rising wedge pattern. When buying volume tapers within this structure, it typically creates vulnerabilities along the ascending support line. Questions & Answers 1. What price level is Pi Network trading at on Friday? Pi Network is hovering near $0.0900 as of Friday. 2. How much did Pi Network decline in the prior session? The token registered a decline of over 3% during the previous day. 3. What is the key technical support level on the four-hour chart? The 50% Fibonacci retracement level sits at $0.0891, reinforcing ascending trendline support. 4. Which resistance levels must be cleared for a recovery? Immediate resistance is at $0.0902, followed by $0.0940 and the 78.6% Fibonacci level at $0.0946. 5. What do the RSI and MACD readings indicate? The RSI stands at 46 and the MACD is below zero, pointing toward declining bullish momentum and elevated breakdown risk. https://trendkia.com/en/crypto/bikavali-ke-dabava-men-pi-network-kya-tutega-takaniki-saporta-stara-41691 TrendKia — Har trend, sabse pehle.