Pi Coin Price Holds for Now, But Retail’s Fight May End Below $0.19
Pi Coin price is stable near $0.208, but technical indicators suggest a potential breakdown below $0.19 due to a bearish head-and-shoulders pattern.Summary
Pi Coin (PI) price is currently holding around $0.208 despite being down over 53% in the last three months. While retail traders are showing buying interest, evidenced by a bullish divergence on the Money Flow Index (MFI) between October 7 and 14, momentum appears weak. The Relative Strength Index (RSI) shows a hidden bearish divergence on the daily chart, suggesting the broader downtrend may continue.
On the 4-hour chart, PI is forming a head-and-shoulders pattern, which signals a potential continuation of the bearish move. A breakdown is likely if the price falls below the neckline support zone of $0.199, potentially targeting $0.180. For the bearish scenario to be invalidated, PI needs to close above $0.210, with a significant reversal requiring a break above $0.228.
(Source：BeInCrypto)