Pi Coin Price Falls 28% From November Highs — Do Charts Now Hint At Reversal?
Pi Coin has struggled since late November. After peaking close to the top of the month, the value has dropped roughly 28%, erasing most of its earlier positive factors. Over the previous seven days alone, Pi Coin is down about 8.6%, and over the previous three months, losses now exceed 40%.
Despite that weak spot, the most recent chart information reveals one thing new forming beneath the floor. Momentum strain is beginning to shift, elevating the query of whether or not the correction could also be nearing a pause. Will the pause result in a rebound or an entire reversal? Time to search out out!
Momentum Pressure Is Easing, But Buyers Are Still Hesitant
On the each day chart, Pi Coin has formed a hidden bullish divergence between November 4 and December 11. During this era, worth made the next low whereas the Relative Strength Index made a decrease low. RSI measures momentum by monitoring the pace of shopping for and promoting. When worth holds greater ranges whereas momentum weakens, it usually indicators that promoting strain is beginning to fade.
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This kind of divergence normally seems close to the top of sharp dips. It doesn’t verify a reversal by itself, however it usually precedes rebound makes an attempt when sellers start to lose management.
However, momentum alone just isn’t sufficient. The Chaikin Money Flow, which tracks whether or not massive consumers or sellers are dominating quantity, continues to be flashing warning. CMF stays near testing its descending development line (connecting decrease lows) and can be buying and selling under the zero line. This reveals that massive cash flows haven’t turned supportive in direction of Pi Coin, but.
In easy phrases, promoting strain appears to be like weaker, however the massive consumers will not be totally dedicated. That retains the rebound setup fragile. Until cash move improves, upside makes an attempt are prone to face resistance. And if the CMF breaks under the trendline, the rebound (not reversal) setup for the Pi Network coin would possibly get invalidated, utterly.
Pi Coin Price Levels That Decide What’s Next
The PI price chart now sits at a choice level. For the rebound construction to realize traction, Pi Coin must reclaim the $0.222 space. A sustained transfer above this stage would mark roughly a 7% advance and sign that consumers are keen to defend greater costs once more. If that occurs, the value might prolong towards $0.244 and probably $0.253, supplied broader market situations stabilize.
Only a worth transfer above $0.284 (late November high) might sign a reversal try. That level appears to be far off now.
Support stays slightly below present ranges. The $0.203 zone is crucial. A each day shut under $0.203 would weaken the rebound case considerably and expose the draw back once more. If that stage fails, Pi Coin might retest decrease areas and push the correction into a brand new leg.
The rebound setup solely strengthens if the value strikes greater whereas the CMF begins to rise towards zero. Without that affirmation, upside makes an attempt threat stalling rapidly.
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