Key takeaways
- PI is up by 2% in the last 24 hours and maintains its value above $0.1500.
- The momentum indicators suggest a potential recovery in the near term.&
Pi Network trades steadily above $0.1500 on Friday as recent exchange data points to mild accumulation activity.&
While the token continues to face resistance near $0.1550, declining selling pressure and growing CEX outflows are supporting a cautiously bullish short-term outlook.
CEX outflows signal growing demand for PI
A decline in token balances on Centralized Exchanges (CEXs) is often viewed as a positive sign, as it suggests investors are moving assets into private wallets rather than preparing to sell.
According to PiScan data, roughly 400,000 PI tokens were withdrawn from exchanges over the past 24 hours.&
The steady reduction in exchange reserves may indicate renewed short-term demand and could help fuel Pi Network’s next recovery attempt if the trend continues.
PI technical analysis: PI faces key resistance near $0.1550
The PI/USD 4-hour chart remains bearish despite the positive performance today. At the time of writing, PI trades around $0.1536, remaining below both the 50-period Exponential Moving Average (EMA) at $0.1573 and the 200-period EMA at $0.1680.
For bullish momentum to strengthen, PI must break above the $0.1550 resistance zone and reclaim the 50-period EMA. A successful breakout could pave the way for a move toward the 200-period EMA near $0.1680.
Technical indicators suggest sellers may be losing control in the short term. The Moving Average Convergence Divergence (MACD) indicator and its signal line continue trending upward, although both remain below the zero line. This points to a potential recovery phase within a broader bearish structure.
Meanwhile, the Relative Strength Index (RSI) hovers near the neutral 50 level, signaling balanced momentum as downside pressure gradually fades.
If the bearish trend returns, immediate support emerges at Tuesday’s low of $0.1463. A break below this level could expose PI to further weakness and potentially retest its all-time low near $0.1310.
As long as support holds and exchange reserves continue falling, traders may keep watching for signs of a bullish breakout above the $0.1550 resistance zone.
The post Pi Network holds above $0.1500 as exchange outflows hint at recovery appeared first on CoinJournal.
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