Pi (PI) Rebounds Near $0.0801 After Seven Daily Declines

Pi (PI), Pi Network’s native token, rebounded nearly 2% Thursday after seven consecutive daily declines, but the move left the token below key technical averages and nearby resistance.

PI traded around $0.0823 at 3:10:38 a.m. ET (07:10:38 UTC) on Oct. 8. The token had fallen roughly 7% on Oct. 7 and closed at $0.080948.

The rebound came near $0.0801, a level based on the July 31 low and identified as nearby technical support. PI’s market capitalization was $910.1 million on Oct. 8.

PI remained below its 50-day exponential moving average at $0.0902 and its 200-day exponential moving average at $0.1247. A move above $0.0827 would place the token above the 23.6% Fibonacci retracement level, while a break below $0.0801 could expose the $0.0704 Fibonacci level.

The relative strength index was near 38, while the moving average convergence divergence line remained below its signal line in negative territory. These readings show that the rebound had not yet changed the broader pattern of lower daily closes.

The next market test is whether PI can hold the $0.0801 area and move above $0.0827, with the 50-day exponential moving average at $0.0902 representing a higher resistance level.