The cryptocurrency markets have been showing signs of strength this week, with Bitcoin holding steady around $85,000 and Ethereum trading close to $1600. While other altcoins are also experiencing some positive momentum, the prices of PI and OM remain range-bound. This raises the question of whether investors have fully regained confidence in these tokens, and if the prices will continue to consolidate within a narrow range.
### Pi Network (PI) Price Analysis
The bulls have once again taken control as the PI price has been resilient in bouncing off local support levels. Holding above $0.525, the token is showing strong support and determination from buyers. The price is forming an ascending triangle pattern, suggesting a potential breakout to the upside. With the Relative Strength Index (RSI) showing incremental growth and the Directional Movement Index (DMI) on the verge of a bullish crossover, the PI price is likely to continue its upward trend towards the resistance zone between $0.755 and $0.77. A surge in liquidity could even push the price above $1 in the near future.
### Mantra (OM) Price Analysis
The Mantra platform recently faced a significant setback after reports surfaced about the team transferring large amounts of tokens, leading to a massive sell-off. Despite attempts by bulls to push the price higher, bears have managed to keep the price above support levels established since March 2024. This suggests a potential breakout is looming on the horizon. The OM price has erased all gains from the past year with a massive bearish candle, indicating a descent into a descending trend. With the RSI approaching oversold levels and the MACD showing increased selling pressure, the OM price is expected to decline further as market participants remain wary of the token’s future price action.
Overall, while the crypto markets are showing signs of strength and momentum, individual tokens like PI and OM are facing unique challenges. Investors will need to closely monitor these tokens to see how they navigate the current market conditions and whether they can break out of their current price ranges.