Pi Network Price Forecast: PI rebounds before New Year

Pi Network is over 1% higher after recovering from $0.20.

Social engagement in the Pi network underscores retail optimism for a New Year comeback.

Although PI reversed from a crucial support, its technical picture remains positive.


At press time on Wednesday, Pi Network (PI) rose roughly 1% following a Doji candle with 0.40% gains the day before. Pi Network's social influence is rising, signaling retail interest. A Morning Star pattern shows PI might bounce from $0.20.

Santiment data shows Pi Network's social dominance, which measures crypto media talk about PI, at 0.086%, up from 0.008% the day before. This suggests increased social discussion about PI, suggesting a New Year comeback.

December's daily trade volume was over 7 million PI, but it dropped to 8.58 million on Wednesday from 38.65 million on December 1.

Pi Network remains over $0.20 after many unsuccessful comeback attempts. On Wednesday, PI is up about 1%, which might form a Morning Star pattern after a Doji candle on Tuesday and Monday's 1.17% drop.

Completed pattern might push PI token price toward 50-day Exponential Moving Average (EMA) around $0.2191.

The daily chart momentum indications are mixed, with Pi over $0.20. The Relative Strength Index (RSI) is 41, around the midway line, suggesting neutral to bearish pressure.

At the same time, the Moving Average Convergence Divergence (MACD) indicator displays increasing average lines and green histogram bars, suggesting slowly building bullish momentum.

If PI falls below the October 11 low of $0.1919, it might challenge the S2 Pivot Point at $0.1593.

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