Pi Network price is heading towards $0.189 as 3 indicators suggest a potential bullish reversal.

The Pi Network (PI) price is currently trading at $0.1714 within a descending channel pattern on the 8-hour chart. However, three technical indicators are beginning to show positive signals. Two of them are diverging from the downtrend, while the remaining indicator is supporting the price.

This shift occurred after Pi Network completed its first KYC verification reward distribution, processing 526 million tasks with the participation of over 1 million validators. Along with the V21.2 Hard Fork upgrade on April 6, 2024, and 119,000 pioneer members completing the second migration, the ecosystem continuously reached significant milestones, but the price of Pi Coin has yet to recover.

RSI and MFI divergence occurs as retail investors "buy the Dip".

From March 27th to April 7th, the price of Pi Coin continuously formed lower Dip within a downtrend channel. However, the Relative Strength Index (RSI) – an indicator measuring momentum and price volatility – did not decline accordingly.

During that period, the RSI formed a Dip on the 8-hour chart, creating a bullish divergence signal. The current RSI is at 34.54, below the neutral zone of 50, but this divergence suggests that selling pressure is weakening, even though the price is continuously setting new Dip .

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The Money Flow Index (MFI) – a momentum measure tied to volume, often indicating " Dip-fishing" activity – also showed a similar signal. While prices fell from March 27th to April 7th, the MFI trended upwards. Currently, the MFI stands at 45.24, indicating fairly strong buying pressure during price dips.

The network landscape is also supporting this shift. The Pi Core Team has rewarded over 1 million KYC validators – who have processed 526 million tasks. This is seen as proof of the decentralized operational capabilities of the Pi ecosystem.

However, the divergence indicators on the chart are not enough to definitively confirm a trend reversal. The next question is whether whales will participate in the recent rally?

CMF increases as the ecosystem continuously reaches new milestones.

The Chaikin Money Flow (CMF) indicator – representing the buying/selling pressure of large investors – also shows positive signals. The CMF is at 0.02, above the zero line. From April 5th to April 7th, the CMF indicator moved upwards along with the price trend, suggesting that buying pressure from large investors may be behind this recovery, rather than just speculation by small retail investors.

This timing also coincided with on-chain activities. Over 119,000 Pi Network pioneer members completed the second migration, unlocking transferable balances. While this migration increased the circulating Token , the CMF trend suggests that this new supply was well absorbed, rather than being dumped onto the market.

While momentum data, Dip-fishing buying, and money flow all support a recovery trend, the final decision still rests with price movements on the chart – will these signals create a genuine breakout?

Pi coin price levels determine the next trend.

PI is currently trading around $0.171, just 2% below the upper trendline of the descending channel as well as the 0.236 Fibonacci level at $0.174. If a daily candle closes above $0.174, the downtrend structure will be broken, leading to a shift in outlook from bearish to neutral in the short term.

Within the descending channel, the first resistance zone will be at $0.180 at the 0.382 Fibonacci level. If the upward momentum is maintained, the next target will be $0.189 at the 0.618 Fibonacci level. A further target could be $0.204 if the upward momentum continues.

However, breakouts from descending channels often require confirmation by volume. If the price rises above the upper trendline but volume is low (as is currently the case), buyers may be "trapped" before the downtrend resumes. The CMF indicator remaining above zero would be a crucial confirmation signal for a genuine uptrend.

On the downside, the $0.165 level is Vai as crucial support. If Pi Coin's price breaks below this level, the divergence signals appearing on the RSI and MFI will become meaningless, and the downward trend will continue. Currently, the $0.174 level will determine the next direction of the price – a breakout could push Pi Coin to $0.189, while a failure to hold could lead to a drop below $0.165.