Pi Network (PI) is trading around $0.090 on Thursday, nursing a three-day winning streak that has so far failed to generate the kind of buying pressure that pushed Bitcoin above $71,000 this week. The token's cumulative gain of roughly 4% over those three sessions is a fraction of the move seen in BTC after the US Treasury expanded its longer-term securities buyback operations.
Why PI didn't follow Bitcoin
The Treasury said it would at least double the maximum size of its buybacks, from $2 billion to $4 billion per transaction. Bitcoin responded with a push past $71,000. PI, by contrast, has not attracted enough buying to produce a comparable rally. The market's attention may be elsewhere, or the token simply lacks the liquidity and momentum to ride the same wave.
Resistance and support
Immediate resistance sits at the psychological $0.1000 level, with the 50% Fibonacci retracement at $0.1022 not far above. On the downside, primary support is at the 78.6% Fibonacci retracement of $0.0839, with a swing low at $0.0703 if that gives way. A decisive break below $0.0839 would invalidate the latest rebound and open the door to $0.0703. Holding above that level while building momentum toward $0.1000 would keep the bullish recovery scenario intact.
Derivatives and momentum
Futures open interest ticked up to $9.30 million from $8.82 million the previous day, but that's still well below the July 15 peak of $12.14 million. The Relative Strength Index sits near neutral 50, and the MACD is slightly above its signal line with an expanding histogram — mild upside momentum, but the signal is weak. In other words, the bounce is real but it's not exactly convincing.
The next test is whether PI can hold above $0.0839 and push toward $0.1000. If it slips below that Fibonacci level, the rebound could be over quickly. For now, the token is doing what it can — which, against Bitcoin's rally, isn't much.
