• Pi Network steadies above $0.1500 on Friday, as buyers hesitate to test a key resistance level breakout.
• PiScan data shows minor outflows from Centralized Exchanges, supporting the short-term recovery.
• The technical outlook is cautiously bullish, as waning selling pressure supports a potential breakout.

Pi Network (PI) holds steady above $0.1500 at press time on Friday as Centralized Exchanges (CEXs) record minor outflows over the last 24 hours. The technical outlook for PI is mildly bullish, with waning downside pressure while price wavers below a key resistance level at $0.1550.

CEX withdrawals support PI token recovery

Typically, a reduction in available supply on CEXs implies a demand surge. In the case of Pi Network, PiScan data shows roughly 400,00 PI tokens were withdrawn from CEXs in the last 24 hours, suggesting short-term buying activity. A steady decline in CEX reserves could support PI token's next recovery run.

Will Pi Network rally to the upside?

Pi Network trades at $0.1536, at press time on Friday, beneath the 50-period EMA at $0.1573 and the 200-period EMA at $0.1680, keeping the near-term bias bearish. Price action shows a consolidation range defined by Tuesday's low and high at $0.1463 and $0.1550, respectively.

To reinstate an upward trend, PI should clear the $0.1550 ceiling and the 50-period EMA at $0.1573. This would open the path toward the 200-period EMA at $0.1680.

The Moving Average Convergence Divergence (MACD) and its signal line rise but remain below the zero line on the 4-hour chart, suggesting a short-term recovery within a broader bearish trend. Meanwhile, the Relative Strength Index (RSI) is at roughly 50, holding a neutral stand as selling pressure wanes.

Looking down, a clear support remains at Tuesday's low of $0.1463, guarding the downside toward PI token's all-time low of $0.1310.

(The technical analysis of this story was written with the help of an AI tool.)