Pi Coin Price Holds for Now, But Retail’s Fight May End Below $0.19
Pi Coin (PI) value is holding at $0.208 after slipping almost 1% up to now 24 hours. The token continues to be down greater than 53% over the previous three months, struggling to maintain up with broader market recoveries.
While retail merchants have stepped up shopping for, the charts present indicators that PI’s bounce won’t final. A mixture of technical divergences and a bearish chart sample hints {that a} essential stage may quickly be examined once more.
Retail Buying Stays Strong, But Momentum Points to Weakness
Retail merchants are exhibiting resilience, as seen by way of the Money Flow Index (MFI) — an indicator that tracks shopping for and promoting strain utilizing each value and quantity. Between October 7 and October 14, Pi Coin’s price made a decrease low (on the every day chart) whereas MFI shaped the next low. That’s a bullish divergence, which means some dip-buying is going on at the same time as costs fall.
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However, the Relative Strength Index (RSI) — which measures the velocity and power of value modifications — paints a really totally different image on the identical chart.
Between October 6 and October 13, PI’s price made a decrease high, whereas RSI climbed barely greater. This is a hidden bearish divergence. And it typically means that the broader downtrend is prone to proceed regardless of brief bursts of shopping for.
In brief, the MFI exhibits that retail buyers try to assist the worth, however RSI warns that momentum continues to be leaning bearish. This mixture explains why Pi Coin has stayed stable for now, however with fading power within the background.
Head-and-Shoulders Pattern Signals Pi Coin Price Breakdown Risk
While the every day Pi Coin value chart highlights combined momentum between retail shopping for and weakening power, the 4-hour chart presents a better have a look at early pattern shifts — and it’s flashing warning indicators.
On the shorter timeframe, Pi Coin is forming a head-and-shoulders sample. It is a setup that often indicators a correction when it seems inside a bigger downtrend like PI’s. Unlike in long-term charts, the place this sample can trace at a full reversal, on shorter charts, it typically factors to a pause or continuation of the prevailing bearish transfer.
The formation would full under $0.199, which acts because the final vital assist stage close to the neckline. If Pi Coin falls under this zone — and particularly below $0.196 — it may verify the breakdown. That would set off a deeper correction of round 9.5%, concentrating on the subsequent main assist close to $0.180.
The neckline itself is sloping downward, exhibiting that sellers are tightening management after every minor bounce.
For the bearish setup to fail, the PI price should shut a 4-hour candle above $0.210. A stronger pattern reversal would solely begin as soon as the worth breaks above $0.228, the prevailing head of the bearish sample.
Until then, the danger of one other decline stays high. Retail shopping for might hold PI quickly secure, however the charts nonetheless favor sellers. If $0.199 breaks, the token’s subsequent transfer may very well be one other leg decrease in its broader downtrend.
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