Since April 9, the Pi token has been trading in a narrow range, facing resistance at $0.66 and consistently finding support around $0.57. There was an unsuccessful attempt to break out of this range on April 12, and momentum has stalled since then.

Currently, there seems to be a sense of indecision among Pi holders based on the analysis of technical indicators on the daily chart. The Relative Strength Index (RSI) has been relatively flat since the beginning of May, indicating a balance between buying and selling pressures, with the RSI standing at 40.49.

An unchanging RSI for an extended period suggests a lack of strong conviction in the market's direction, and traders are hesitant to take significant buy or sell positions without a clear catalyst or confirmation of a trend. Additionally, the Average True Range (ATR) for Pi has been decreasing, reflecting reduced market volatility, which currently stands at 0.051.

Currently trading at $0.58, Pi is just above the crucial support level at $0.57. This level has been significant in preventing downward pressure during the consolidation phase. If Pi drops below $0.57, it could potentially reach its all-time low of $0.40. Conversely, if the token surpasses $0.66, it may target $1.01.