Pi Network Price Rises on Third Consecutive Day Amid Risk-On Sentiment
The Pi Network has experienced a steady recovery in its price, extending gains for the third consecutive day. On Wednesday, the token's price edged above $0.0930.
According to the Fear and Greed Index, which reads 71, there is a firm risk-on sentiment in the crypto market. This suggests that capital may rotate into altcoins, including the Pi Network.
The technical outlook for PI indicates a mild bullish bias, with momentum indicators showing elevated upside pressure. However, the token's price remains below all key exponential moving averages, suggesting rallies are still capped within a broader bearish structure.
The Relative Strength Index (RSI) at 55 on the daily chart indicates a steady recovery above the midline, suggesting rising buying pressure. A confirmed breakout above the 50-day EMA at $0.0937 could extend PI token's recovery toward the 50% retracement at $0.1022.