PI Technical Outlook: Breakout Attempt in Progress as Price Tests Major Resistance Zone

PI is showing a strong upward push after weeks of consolidation inside a tight demand structure between $0.21–$0.24. Buyers have stepped in aggressively from this zone, forming higher lows and pushing price back above the 20 EMA ($0.239) and 50 EMA ($0.243) — an early sign that momentum is gradually shifting in favor of bulls.

The key development is PI’s attempt to break out of the falling trendline (blue channel), which has acted as continuous resistance for several months. A decisive breakout and close above this trendline would confirm a structural shift toward a bullish reversal.

At the moment, PI is testing the critical $0.27–$0.28 resistance zone. This level has repeatedly rejected price in recent attempts and aligns closely with previous liquidity zones and supply blocks. A successful breakout above $0.291–$0.293 (first major resistance cluster) would open the road toward the next major resistance at $0.321.

Above this, the larger reversal target sits near the $0.35–$0.36 supply zone (highlighted in red), which also aligns with the 0.382 Fibonacci retracement and marks a major decision point for long-term trend direction.

On the downside, support is now layered:

$0.25–$0.26 short-term support

$0.23–$0.24 strong demand area

$0.205–$0.215 deeper retest zone if price pulls back sharply

The RSI at 69.92 signals strong bullish momentum but is approaching overbought levels. This suggests PI may face resistance at current levels and could see short-term pullbacks before attempting a clean breakout.

📊 Key Levels

Resistance:

$0.274 → $0.292 → $0.321 → $0.352–$0.360

Support:

$0.260 → $0.239 → $0.215 → $0.155

RSI:

69.92 — Strong momentum, nearing overbought territory

📌 Summary

PI is showing strong bullish signs as it attempts to break out from a long-term descending channel. A close above $0.291–$0.293 would confirm bullish continuation toward $0.321 and potentially $0.35+. However, overbought RSI suggests a possible short-term pullback before continuation. Holding above the $0.23–$0.24 zone is crucial for maintaining bullish structure.

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