Pi Network (PI) enters May under pressure, with technical signals sending conflicting messages.
Momentum indicators suggest bears remain firmly in control, but subtle signs hint that a shift could be brewing beneath the surface.
The ADX, a gauge of trend strength, has surged past 56—indicating a powerful directional move. Unfortunately for bulls, that direction appears to be down, as sellers tighten their grip. The directional index shows declining upward movement and rising downside force, confirming a sharp bearish tilt in recent days.
Still, not all indicators are flashing red. The Chaikin Money Flow just flipped positive for the first time in weeks, signaling a tentative return of buyer interest. Though still modest, this change suggests some capital may be quietly re-entering PI after recent outflows, hinting at early-stage accumulation.
Price structure, however, remains vulnerable. A decisive drop below the $0.547 support zone could accelerate the decline, exposing the token to a potential fall toward $0.40. This level hasn’t been tested in months and could trigger panic selling if reached. The longer PI hovers near support without a bounce, the more likely it is to break.
On the flip side, if bulls can push the price above $0.665, momentum could shift in their favor. A breakout above this resistance might spark renewed interest and attract sidelined buyers, especially if accompanied by higher trading volume. In that case, a move toward the $0.789 region becomes more plausible, setting the stage for a trend reversal. Until then, traders remain cautious, watching for confirmation before making bold moves.
