Will Pi Network and Mantra Restore Investors' Confidence? Will the prices of PI and OM recover?

The cryptocurrency market has gained some momentum since the beginning of the week, attracting significant buying pressure onto the platform. Bitcoin is holding at around $85,000, while Ethereum is trading near $1,600. Meanwhile, other altcoins are also gaining some strength, but the price of PI & OM continues to be constrained within a range. Does this indicate that investors have not yet regained the lost confidence in this token? Will the price remain consolidated within a narrow range? Analysis of Pi Network price (PI) The bulls have jumped into action once again as the price has made every effort to trigger a strong recovery from the local support level. The token has held firm above the support level of $0.525, indicating that the bulls are extremely vigilant. The price of PI is trying its best to rise along the support of a bullish pattern, hinting at a continuous uptrend, which may culminate in a significant breakout in the near future.

As seen in the chart above, the price of Pi Network is trading in an ascending triangle and has faced downward pressure. This token is expected to rise along the support as the RSI is gradually increasing. Furthermore, the DMI is about to establish a bullish crossover, which could trigger a good price increase. Additionally, the ADX is nearing a lower threshold, which could trigger a strong recovery, indicating increasing bullish strength. Therefore, the price of PI is expected to maintain a healthy upward trend and enter the resistance zone between $0.755 and $0.77. However, a large amount of liquidity could lead to a breakout above $1. Analyze the price of Mantra (OM) The Mantra platform has faced one of the largest pullbacks in its history after reports of the team transferring a large amount of tokens raised significant doubts. The token faced a major sell-off, causing the price of OM to drop by more than 90% in just a few hours. Despite efforts to increase the price to restore a strong rally, the bears managed to hold levels above the support that has been maintained since March 2024. This suggests a potential breakout may be imminent.

The price of OM has broken through all gains in the past 12 months by creating a large weekly bearish candle. Despite efforts to establish a recovery, the sellers have tried to keep the rally limited within a bearish trend. As a result, the price is said to still be accumulating within a declining trend. The RSI is about to reach a lower threshold, while the MACD indicates a significant increase in selling pressure. Therefore, the price of OM is expected to lose more value in the coming days as market participants seem to lack confidence in the upcoming price action.