Pi Network’s price rose nearly 20% to around $0.086 on July 15 after a resale, with improving US inflation data and renewed buying interest combining to lift the token to new record lows.
Summary
- The price of Pi Network rose almost 20% after a resale of shares and soft US inflation data boosted crypto sentiment.
- A bullish MACD crossover and high trading volume supported the recovery, although the PI remains below key moving averages.
- July’s heavy token launch continues to pressure the market despite Pi2Day’s new products and ecosystem development.
According to data from crypto.news, Pi Network (PI) rebounded from the $0.070-$0.072 range before reaching an intraday high near $0.086, while the latest US inflation figures helped drive a supportive rally across the cryptocurrency market.
The move followed several weeks of relentless selling that erased nearly 40 percent of the token’s value and pushed momentum indicators into oversold territory, prompting bargain hunters and short-term traders to return to the market.
Best-selling cases and big releases supported the repeat
The recovery gained momentum after the daily Pi Relative Strength Index dropped to around 15, a level that usually indicates weary selling pressure.
At the same time, softer-than-expected US consumer price data boosted sentiment across digital assets, drawing new capital into high-risk cryptocurrencies that have seen steep declines during recent market corrections.
Trading activity also picked up during the session, with daily volume rising above $27 million as speculative buyers returned. On the 4-hour chart, Pi has again produced a bullish MACD crossover, while the histogram has turned positive for the first time in days, indicating that bearish momentum has weakened in the short term.
However, the technical picture has not fully recovered. TradingView data shows that PI remains below all important moving averages, including the 50-period, 100-period, and 200-period simple moving averages, leaving the existing downtrend intact despite the recent breakout.
The token briefly recovered its 20-period moving average near $0.084 before facing resistance, indicating that buyers are still facing selling pressure as the price attempts to recover.
From a price structure perspective, the recent rally has helped establish the $0.070 area as an important short-term support area. However, strong resistance is now near the 50-period moving average around $0.094, followed by around $0.105 and $0.118, levels that will need to be recovered before the market starts to reverse the broader bearish trend.
Opening major tokens continues to weigh on sentiment
While the big trends helped spark today’s rally, the factors behind Pi’s long-term decline remain unchanged. Throughout July, the network has been pulling a planned token launch, with an estimated 103.7 million to 127 million PI starting to circulate. The continued increase in available supply has repeatedly exceeded organic demand, resulting in sharp breaks below the $0.12 and $0.10 support levels.
At the same time, capital continued to flow into artificial intelligence-related stocks in the United States and East Asia, dampening investor appetite for thinly traded crypto assets like Pi. A combination of increased token supply and weak speculative demand has kept buying pressure limited despite occasional relief rallies.
Developers however continued to introduce new products aimed at strengthening long-term use within the ecosystem. The latest release of Pi2Day added hosting for decentralized applications, software development kits for developers, and an automated verification service for your customer that requires payments through PI.
Next to that launch, the continuous development of the base based on the new versions of the Stellar protocol and the continuous public speculation surrounding a possible listing on a major exchange like Kraken remain among the important issues that supporters believe can improve demand in the long run, although no such exchange listing has been officially confirmed.
