Pi Network’s native token, PI, has rebounded from an all-time low of $0.1533 during last week’s market crash, showing steady gains in the past three days as traders re-enter the market. Technical indicators suggest buying momentum is building, potentially breaking previous resistance levels. The Elder-Ray Index indicates weakening bearish momentum and growing buy-side conviction among traders.

The Elder-Ray Index measures the strength of bulls and bears in the market, with red histogram bars shrinking indicating weakening bearish momentum and potential bullish reversal. PI’s positive Balance of Power (BoP) reading at 0.59 and upward trend support a bullish outlook, showing market participants accumulating the altcoin.

Market sentiment for PI is shifting gradually, with a breakout above the $0.2573 resistance setting the stage for a move toward the $0.2917 target zone. However, a decrease in accumulation could lead to a revisit of PI’s all-time low of $0.1533. The current trends suggest a potential bullish reversal for PI in the near future.

Read more at Yahoo Finance: PI Coin Rebounds From Record Low, Shows Early Signs of a Bullish Reversal