Pi Coin Price Eyes New Lows as Bearish Death Cross Nears
Pi Coin (PI) value has slipped again into adverse territory after a short-lived rally. At press time, it traded a bit above $0.35, down nearly 8% previously 24 hours.
The sharp drop has erased most of its current features, leaving solely 2.3% development during the last seven days. But even these modest features might vanish quickly, as the token stares at contemporary lows.
Money Flows Dry Up, Bears Step In
The Chaikin Money Flow (CMF) measures whether or not cash is coming into or leaving an asset. It briefly spiked above zero when Pi Coin rallied from $0.32 to $0.39, displaying consumers had stepped in.
But now it has dropped to -0.06, near the August 11 low, signaling that capital inflows have dried up and sellers are taking management once more.
The Bull Bear Power (BBP) provides to this bearish image. BBP compares shopping for strain to promoting strain. When it turns adverse, it reveals bears have the higher hand.
The final time BBP flipped adverse, proper after the August 9–11 highs, the Pi Coin price tumbled from $0.46 to $0.32, a fall of over 30%. The similar flip has occurred once more, warning of one other potential drop.
Pi Coin’s transient rally has already misplaced steam. With cash outflows rising and bearish strain dominating, the token seems uncovered to additional draw back. Unless the $0.34 assist holds, the Pi Coin price might revisit $0.32 — and maybe sink even decrease.
For now, bulls are struggling, and bears seem able to take full management.
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Crossover Looms as Key Pi Coin Price Support Gets Tested
To seize smaller value actions, the main target shifts from the every day chart to the 4-hour chart.
Here, the short-term 20-day Exponential Moving Average (EMA) or the crimson line is on the verge of crossing underneath the longer-term 100-day EMA (sky blue line). An EMA provides extra weight to current costs, making it faster to answer adjustments than a easy shifting common.
When a shorter EMA falls beneath an extended EMA, it’s referred to as a bearish “Death” crossover. This typically alerts that promoting momentum is strengthening and that the asset might be prone to setting new native lows.
Pi Coin trades close to $0.35, simply above the crucial assist of $0.34. If that stage breaks, the PI value might slide to $0.32, its late August low. Any deeper fall may expose new lows underneath $0.32.
On the opposite aspect, bulls want a powerful every day shut above $0.36 to regain momentum. But with each CMF and BBP stacked towards them, the percentages stay with the bears.
Pi Coin’s transient rally has already misplaced steam. With cash outflows rising and bearish strain dominating, the token seems uncovered to additional draw back. However, if Pi Coin, ultimately or the opposite, manages to cleanly reclaim $0.36 after which $0.38, we will count on the short-term value breakdown threat to get delayed.
The publish Pi Coin Price Eyes New Lows as Bearish Death Cross Nears appeared first on BeInCrypto.
