Pi Network has experienced a significant downturn of nearly 40% in the past two weeks after reaching a peak of $2.99 on February 27. However, recent technical indicators suggest that the momentum of Pi is now stabilizing.

Recent data from the DMI reveals a surge in buying pressure over the past two days, although the ADX has decreased, indicating a possible weakening trend strength. Meanwhile, the RSI has climbed from oversold levels towards overbought territory, hinting at potential consolidation or a continuation towards key resistance levels.

The Average Directional Index (ADX) for Pi has decreased to 30.6 from 36.5 in the last two days, pointing to a softening of momentum behind the current uptrend. Additionally, the Directional Indicators (+DI and -DI) show a significant increase in buying pressure, with +DI surging and -DI dropping.

The Relative Strength Index (RSI) for Pi has seen a sharp rise to 60.90, indicating a strong shift in momentum as buyers take control. Despite nearing overbought territory, the RSI has not yet crossed the critical 70 threshold, suggesting potential for further upward movement.

At present, Pi is trading within a crucial range with resistance at $1.82 and support at $1.57. If buyers successfully breach $1.82, the next target would be $1.98, paving the way for a potential rally towards $2.35. However, sustaining upward momentum and confirming a breakout above $1.82 will be essential for Pi to reclaim higher levels.

On the downside, failing to hold the $1.57 support level may lead to further declines and a possible retest of $1.35 or even $1.23. The strength of the support at $1.57 will be vital in determining the continuation of Pi's current uptrend or a shift towards a more extended pullback phase.