Key takeaways
Pi Network (PI) is stabilizing above $0.07500 after more than two weeks of sustained selling pressure.
Improving crypto market sentiment following softer U.S. inflation has boosted speculative interest in PI.
PI open interest climbed from $9.11 million to $12.14 million, signaling renewed trader participation.
Pi Network (PI) traded above $0.07500 on Wednesday, showing early signs of stabilizing after more than two weeks of persistent losses.
The token’s recovery comes as broader cryptocurrency markets rebounded following softer-than-expected U.S. inflation data, improving investor sentiment and encouraging renewed interest in higher-risk digital assets.
Although PI remains in a broader downtrend, technical indicators suggest bearish momentum may be weakening.
Improving market sentiment boosts risk appetite
The latest U.S. Consumer Price Index (CPI) report helped ease concerns over additional Federal Reserve interest rate hikes, reducing pressure on risk assets, including cryptocurrencies.
As market sentiment improved, investors showed greater willingness to return to speculative assets such as Pi Network.
CoinMarketCap’s Crypto Fear and Greed Index rose to 35 on Wednesday from 28 on Monday, reflecting a noticeable decline in market fear and improving investor confidence.
Historically, rising risk appetite has often supported increased trading activity in speculative cryptocurrencies.
Derivatives data points to growing interest in Pi Network. According to CoinAnk, PI futures open interest increased from $9.11 million to approximately $12.14 million over the past day.
The sharp increase suggests traders are opening new positions rather than closing existing ones, indicating renewed confidence and stronger speculative demand.
While rising open interest alone does not guarantee higher prices, it often supports increased market liquidity and stronger price momentum when accompanied by improving sentiment.
Pi Network technical analysis: Can PI reclaim $0.1000?
From a technical perspective, Pi Network is attempting to build a base near $0.07500, where a descending support trendline forming part of a falling channel continues to hold.
A Doji candlestick formed near this support during the previous trading session, signaling indecision between buyers and sellers and potentially marking the beginning of a short-term reversal.
The 161.8% Fibonacci extension at $0.06793, measured from the decline between $0.1998 and $0.1183, reinforces this support zone and increases the likelihood of a technical rebound.
If buying momentum strengthens, PI could target the following resistance levels:
$0.09613 – 127.2% Fibonacci extension
$0.1000 – Psychological resistance level
A decisive move above $0.09613 would significantly improve the short-term outlook and increase the probability of a recovery toward $0.1000.
Although Pi Network remains within a broader bearish trend, momentum indicators suggest downside pressure may be becoming exhausted.
The Relative Strength Index (RSI) has fallen to around 21, placing the token deep in oversold territory. Such readings often indicate that selling has become excessive and that a relief rally could emerge if buyers return.
Meanwhile, the Moving Average Convergence Divergence (MACD) remains below its signal line, confirming that the broader trend is still bearish. However, the indicator also suggests bearish momentum may be weakening after the recent decline.
The most important downside support remains the 161.8% Fibonacci extension at $0.06793.
A daily close below this level would invalidate the current rebound scenario and could trigger a new phase of price discovery to the downside.
As long as PI holds above this support, the possibility of a recovery toward $0.09613 and eventually $0.1000 remains intact.
