Pi Network (PI) Price Prediction: Mysterious Whale ODM Continues Buying Frenzy, Pi Coin Still Fails to Hold Important Threshold of 0.43 USD

Pi Network (PI) further strengthens its volatile market, reporting at 0.4279 USD in the Asian morning session today (30th), having fallen below the support level of 0.4300 USD. The mysterious Whale ODM Wallet continues to accumulate Pi coins, but retail investors seem unfazed.

The PI coin was unable to maintain its bullish momentum last Monday, and as it fell to the weekly support level of 0.43 USD, an unknown Wallet address purchased 1.4 million PI coins, continuing its crazy buying trend for a week. Nevertheless, as the bullish momentum weakens, the technical outlook remains bearish.

Mysterious Whale Continues Pi Coin Buying Frenzy for a Week

PiScan data shows that a wallet “GASWBD…J2AODM” possibly related to a certain large investor has increased its holdings by over 1.4 million Pi coins from the CEX exchange. This increase is the largest transaction on the network in the past 24 hours.

It is worth noting that this major investor has purchased over 11 million Pi coins in the past seven days.

Pi coin price analysis

Pi coin failed to maintain its bullish momentum this week, as selling pressure above the 100-day Exponential Moving Average (EMA) led it to retest the support level of $0.43, which has remained stable since July 15.

If the Pi coin firmly falls below this level, it may test the low of $0.42 on July 15, followed by the psychological level of $0.40.

The Relative Strength Index (RSI) is facing downward risks as it falls below the midpoint line at 42, indicating a decrease in buying pressure.

The Moving Average Convergence Divergence (MACD) is about to converge below the signal line, which will issue a trend reversal and sell signal.

On the other hand, if a reversal breaks through the 200-day EMA, it may re-establish a bullish trend, targeting the psychological level of $0.50.

(Source: Trading View)