Key takeaways
Pi Network trades at $0.09 after recording three consecutive bullish daily closes earlier this week.
Expanded US Treasury bond buybacks have improved risk appetite and pushed Bitcoin toward $70,000, but PI continues to underperform.
The token must break above the psychological $0.1000 level and the 50% Fibonacci retracement at $0.1022 to extend its recovery.
Pi Network (PI) trades around $0.090 on Thursday, preserving its three-day recovery from earlier in the week but continuing to lag behind the broader cryptocurrency market.
Renewed risk appetite has pushed Bitcoin above $71,000 after the US Treasury expanded its longer-term securities buyback operations.
However, PI has failed to attract enough buying pressure to produce a comparable rally.
The token must overcome the psychological $0.1000 threshold to strengthen its recovery and support a more sustained bullish move.
Treasury buybacks lift crypto sentiment
The US Treasury announced that it would at least double the maximum size of certain liquidity-support buyback operations from $2 billion to $4 billion per transaction.
The initiative is intended to support liquidity in the longer-dated Treasury market and address concerns surrounding rising borrowing costs.
Improving bond-market liquidity and easing long-term yields have strengthened investor confidence in higher-risk assets, including cryptocurrencies.
Bitcoin has benefited substantially from the shift in sentiment, advancing toward $70,000 alongside sharp gains across several major altcoins.
Pi Network, however, remains among the market’s notable underperformers. Derivatives data indicates a modest improvement in speculative interest around PI, but retail demand remains relatively weak.
CoinAnk data shows that PI futures Open Interest increased to $9.30 million from $8.82 million the previous day. Open Interest measures the total value of outstanding derivatives contracts and typically rises when traders establish new positions.
Despite the daily increase, the figure remains considerably below the July 15 peak of $12.14 million.
The subdued level suggests that traders remain hesitant to commit substantial capital to PI, even as improving market conditions encourage risk-taking elsewhere in the cryptocurrency sector.
Without a more substantial increase in participation, Pi Network may struggle to keep pace with the broader market recovery.
Technical outlook: Can PI rebound toward $0.10?
Pi Network trades near $0.090 on Thursday, maintaining a neutral short-term outlook.
The token recorded three consecutive bullish daily closes earlier this week, producing a cumulative gain of approximately 4%.
PI has also moved above the 78.6% Fibonacci retracement at $0.0839, measured from the downswing between $0.1341 and $0.0703.
Holding above this level preserves the possibility of an extended recovery. However, PI still faces significant resistance around the psychological $0.1000 mark.
The token’s immediate technical resistance sits at the 50% Fibonacci retracement level of $0.1022.
A decisive daily close above the $0.1000-to-$0.1022 zone could strengthen bullish momentum and attract additional retail participation.
Such a move would also suggest that PI is beginning to capitalize on the improving sentiment across the broader cryptocurrency market.
Failure to overcome this resistance zone could keep the token confined to its current range and increase the likelihood of renewed selling pressure.
PI’s daily momentum indicators reflect a cautious recovery rather than a decisive bullish reversal.
The Relative Strength Index is hovering near the neutral level of 50, indicating that neither buyers nor sellers have established clear control.
Meanwhile, the Moving Average Convergence Divergence indicator remains slightly above its signal line, while its bullish histogram gradually expands. This configuration points to mild upside momentum, but the signal remains too weak to confirm a sustained rally.
A stronger RSI move above 50, accompanied by further MACD expansion and rising Open Interest, would improve PI’s near-term outlook.
The 78.6% Fibonacci retracement at $0.0839 remains PI’s primary support level.
Buyers must defend this area to preserve the current recovery structure. A decisive break below $0.0839 could invalidate the latest rebound and expose the swing low at $0.0703.
Conversely, holding above $0.0839 while building momentum toward $0.1000 would keep the bullish recovery scenario intact.
