Pi Network (PI) price prediction: The parabolic indicator warns of a strong resistance at $0.47, and it may test the bottom again in the short term.

The Pi Network (PI) Token experienced a big dump in early August, hitting a historical low of $0.32 on August 1. Although it rebounded slightly by 4% to $0.36, bearish sentiment continues to dominate the market. In the past 24 hours, the volume during the rebound plummeted nearly 30% (currently around $112 million), forming a significant volume-price divergence (negative divergence), indicating a lack of support for the rise. The Parabolic SAR shows the resistance level at $0.47, with the daily chart PI price oscillating between $0.32 (historical low support) and $0.40 (key resistance). The technical analysis shows that short positions still dominate the situation, and unless new buying demand emerges to push through $0.40, the PI price faces the risk of probing previous lows or even breaking below in the short term.

August started with a big dump, historical low $0.32 raises concerns Pi Network (PI) experienced a big dump at the beginning of August, hitting a historical low of $0.32 on August 1. Although the altcoin price has slightly rebounded to $0.36 since then, the short positions atmosphere is strong, indicating that the price may test the cycle low again in the coming weeks or further fall below this support level.

Rebound Current Hidden Worries: Volume-Price Divergence + Technical Indicator Suppression Despite today's PI price rising 4% against the trend (while the overall market slightly adjusted), technical indicators are flashing warning signals:

1. Risk of Volume-Price Divergence: During the price rise in the past 24 hours, the PI volume fell by nearly 30%, currently around $112 million. This "price up volume down" pattern creates a negative divergence, clearly revealing that the current rebound lacks substantial buying support, and the upward momentum is weak.

   (PI price and volume | Source: Santiment)

2. Parabolic SAR Indicator Alert: This indicator is used to identify trend direction and reversal points. As of the time of writing, the indicator dots are located above the PI price (current resistance level $0.47), forming dynamic resistance. The price is below the dots, clearly indicating that the market is still in a downward trend, meaning bearish momentum dominates. If a bullish reversal cannot be formed, the PI price may further fall.

   

   (PI Parabolic SAR | Source: TradingView)

   • Indicator Interpretation: Dots located below the price = upward trend (bullish); dots located above the price = downward trend (bearish).

Key Long-Short Battleground: $0.32 support and $0.40 resistance On the daily chart, the PI price is currently fluctuating between its historical low of $0.32 (key support) and $0.40 (important resistance level).

• Short positions dominate the scenario: If short positions continue to exert pressure, the PI price may resume its downward trend, once again testing the historical low support at $0.32, and there is even a risk of breaking below this support level.
• Bullish Reversal Condition: The only turning point lies in the market showing significant new buying demand. If it can successfully push the price to effectively break through the $0.40 resistance level, it may open up upward space, with the target looking towards around $0.46.

Conclusion: The rebound of Pi Network (PI) after hitting a historical low seems to be weak, with a sharp decline in volume and short positions indicated by the parabolic reversal signal forming a strong warning. The support level at $0.32 is undergoing severe testing, while the resistance level at $0.40 has become a short-term dividing line between bulls and bears. In the current market, lacking new buying power, investors need to be wary of the risk of prices once again testing or even falling below the previous low of $0.32. The subsequent trend should closely observe whether the trading volume can effectively increase and the breakthrough situation of the $0.40 resistance level, as these two factors will be key indicators for determining whether market sentiment shifts.