Pi Network Price Drifts Toward Channel Support
The Pi Network price has been drifting toward the lower boundary of its ascending channel on the 4-hour chart, but sentiment among holders remains strong. Currently trading at $0.09443, down 0.9% on the day, the token's price is approaching the $0.09197 support zone.
A recent post from a crypto media account suggests that some holders are confident in the token's future and expect it to trade higher. The account said they would not be selling and expect to see the token trading higher down the line.
Historically, Pi Network has bounced off this same channel structure twice already on its current move, both times reversing sharply higher on stronger volume. If history repeats itself, a bounce here would need buyers to step in near the $0.09197 support zone with volume picking back up.