Predictions for PI's Performance Next Week: Insights from ChatGPT

Pi Network’s native digital token has shown resilience recently, making gains even when major cryptocurrencies like Bitcoin and Ethereum saw significant losses. Although the broader market has started to recover with Bitcoin exceeding $94,000 and Ethereum reaching over $3,200, PI has struggled to keep pace. In fact, it has dropped by 12% in the past week and currently hovers just above $0.22.

Looking ahead, we consulted ChatGPT for its analysis on whether the upcoming week could bring better fortune for PI.

Pi Network’s PI Price on CoinGecko

Technical Analysis

ChatGPT offered a sobering outlook for PI holders, indicating a recent drop in trading volumes. The price has slipped from $0.28 to $0.225, suggesting a bearish trend in the short term, although it has not broken through crucial macro support levels.

Despite these challenges, PI remains above its all-time low of $0.172 recorded in October and must bounce back from support levels around $0.21 to $0.22 to maintain a constructive recovery structure. If it dips below this, it risks testing earlier lows again.

Should the price rebound, the next significant resistance appears at $0.24-$0.25, which could prove difficult to overcome unless a major update revitalizes investor interest.

Likely Scenarios

ChatGPT assessed a breakout above $0.25 as highly unlikely but deemed a drop below $0.20 also improbable unless the wider market conditions deteriorate. If the current environment remains steady, it predicts PI will trade within a sideways range between $0.22 and $0.24.

“The weekly decline for PI does not necessarily indicate a trend reversal. The asset is still structurally sound above $0.21, but market momentum suggests a prudent approach. Next week is pivotal; maintaining support could encourage a rebound, while a breakdown would likely extend the current correction towards $0.20,” concluded the AI platform.