Pi Coin Price Bounce Isn’t Over Yet? Two Bullish Charts Show Why
The Pi Coin value rebound is stunning many merchants. Over the previous week, it’s up 17.3%, trimming month-to-month losses to only 5.4%. Even the final 24 hours have seen gentle good points of round 0.6%.
The broader setup now hints at a continuation of this restoration. Let’s have a look at what the charts reveal and why the bounce would possibly nonetheless have some room to run.
Daily and 4-Hour Charts Show Momentum Building
The first signal of energy comes from the each day chart. Between October 30 and November 1, PI price made the next low whereas the Relative Strength Index (RSI) — which measures shopping for versus promoting energy on a scale of 0 to 100 — made a decrease low. This mismatch, referred to as a hidden bullish divergence, typically alerts that sellers are dropping management and the near-term uptrend (the weekly one) would possibly proceed.
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This each day RSI sample aligns with what’s taking place on the shorter 4-hour chart. The 50-period Exponential Moving Average (EMA), which tracks the typical value weighted towards current candles, is nearing a crossover above the 200-period EMA.
Traders consult with this setup as a “golden crossover,” which generally signifies rising bullish momentum. If this crossover occurs, it might strengthen the case for a continued Pi Coin value restoration within the quick time period.
Retail Money Keeps Flowing
One motive the Pi Coin price hasn’t misplaced steam but is sustained exercise from retail merchants. The Money Flow Index (MFI) — which tracks each value and buying and selling quantity to measure shopping for and promoting strain — has been forming increased highs since October 24.
Although MFI dipped barely after October 29, it has since rebounded, indicating renewed inflows. It presently holds round 58, above the impartial 50 line. As lengthy because it stays above 56.45 and doesn’t make a decrease low, it suggests merchants are nonetheless shopping for dips, serving to the Pi Coin value maintain its bounce.
Key Levels To Watch For Pi Coin Price
On the Pi Network price chart, the primary main resistance sits at $0.255. A clear each day shut above that might push Pi towards $0.270, marking an 8.4% transfer from present ranges. If that vary breaks, the subsequent goal turns into $0.293, adopted by $0.340 and $0.376 as prolonged upside ranges.
On the draw back, $0.21 serves as the primary main degree of assist. Below that, $0.194 stays a powerful ground for now. However, if $0.194 fails to carry, it could invalidate the present bullish setup and expose Pi Coin to a deeper correction towards $0.153.
For now, momentum indicators and retail exercise trace that Pi Coin’s bounce nonetheless has some life — however sustaining it depends upon holding above $0.243 and breaking by $0.255 within the coming days.
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