Pi Coin Price Unshaken by Scam Shock — Strong Support or Delayed Reaction?
Pi Coin (PI) trades close to $0.203, up about 1% within the final 24 hours and virtually flat for the week. This comes proper after a significant rip-off shock, which normally triggers panic promoting. Instead, Pi Coin worth has held regular.
This raises an actual query. Is Pi Coin holding as a result of assist is genuinely robust, or is the market simply late to react?
Bearish Channel Meets Mixed Money Flow Signals Amid Scam Shock
A major coordinated scam recently drained over 4.4 million PI by impacting Pi Network’s cost request characteristic.
The Pi Core Team pressured this isn’t a protocol flaw however a case of social engineering, since transfers solely happen with person approval. With losses rising and one pockets linked to 700,000–800,000 PI stolen per thirty days, the group quickly disabled cost requests to cease additional abuse.
Normally, that form of safety scare triggers a pointy selloff. Instead, Pi Coin stayed close to $0.204, barely transferring because the market absorbed the information — even whereas worth trades inside a bearish channel.
Pi Coin has been trading inside a descending channel since October 27. Both trendlines are weak as a result of they’ve restricted touchpoints, however the decrease trendline is presently the main focus. PI worth sits near that boundary, which regularly acts like a ground in downtrends. If this ground provides method, the construction breaks. Until then, it’s appearing like an anchor.
Money Flow Index (MFI), which measures shopping for stress via worth and quantity, explains why Pi Coin didn’t drop on the rip-off information. Between December 19 and December 29, the worth trended decrease, however the MFI trended greater. That is a bullish divergence.
It reveals dip shopping for and suggests retail assist has helped Pi Coin respect the decrease trendline of the channel.
Want extra token insights like this? Sign up for Editor Harsh Notariya’s Daily Crypto Newsletter here.
But that assist shouldn’t be secure but. On December 29, MFI broke its rising trendline. It now sits close to the 46 zone. If it drops under 37, making a decrease low, dip-buying demand weakens. A breakdown right here would take away the cushion that protected Pi Coin via the rip-off headlines.
Big Money Remains Helpful, For Now
Chaikin Money Flow (CMF), which tracks massive capital flows utilizing volume-weighted stress, has additionally been useful. It has began to rise and stays above zero. Plus, it has been rising when the worth trended decrease between December 20 and December 31, hinting at bullish (below the hood) accumulation.
This is normally an indication that larger gamers are absorbing promote stress. The final time CMF broke above zero and stayed above that for a number of periods in November, Pi Coin rallied about 31% earlier than momentum pale.
So the indications are now not aligned. MFI says dip shopping for is cooling. CMF says accumulation nonetheless exists.
As lengthy as CMF stays above zero, Pi Coin has a motive to carry the present vary. If CMF drops again below zero, the descending channel turns into extra harmful and units the stage for a delayed response to the rip-off.
That is why the market has not moved but. The technical construction nonetheless has sufficient assist to delay panic, however indicators are splitting. This is usually how delayed reactions type.
Key Pi Coin Price Levels Decide If Support Holds
Everything now comes down to cost ranges that sit contained in the descending channel.
If Pi Coin reclaims $0.217, it returns to the channel’s mid-range. That is the primary signal that assist isn’t just emotional. Holding that degree can open room to $0.236. A break above $0.283 would reject the channel and shift the construction from bearish to impartial. But that form of upside appears to be like unlikely, protecting the present market situations in thoughts.
The draw back dangers look extra pronounced.
If Pi Coin loses $0.195, the important thing assist, the decrease trendline of the channel breaks. That degree is the spine of assist and the explanation whales might have amassed.
Losing it exposes $0.182. Breaking $0.182 confirms the channel breakdown and places $0.160 in play.
This creates two clear paths:
If MFI stabilizes and CMF retains rising, Pi Coin may repeat its November habits and try a bounce to $0.217 and $0.236.
If MFI drops below 37.8 and CMF falls again below zero, whales cease absorbing provide, and the rip-off shock might lastly present up in worth. That situation unlocks a delayed correction towards $0.182 or decrease.
Right now, the chart explains why the worth didn’t collapse on the information. But the identical chart additionally explains why a delayed response continues to be potential.
The submit Pi Coin Price Unshaken by Scam Shock — Strong Support or Delayed Reaction? appeared first on BeInCrypto.
