Pi Coin Price Stuck at $0.200, But Fibonacci Suggests This Is A Sign Of Strength
BeInCrypto
Pi Coin is consolidating around $0.200, with technical indicators suggesting underlying strength and potential for a bullish shift.Summary
Pi Coin (PI) is trading steadily around the $0.200 support level, which technical analysis suggests is consolidation rather than weakness. The Squeeze Momentum Indicator shows receding bearish pressure, hinting at a potential bullish reversal. Furthermore, PI maintains a strong positive correlation (0.93) with Bitcoin, which could benefit PI as Bitcoin shows renewed optimism above $110,000. Currently priced at $0.204, PI is holding above the crucial 38.2% Fibonacci Retracement line at $0.198. A bounce from this level could target $0.229, but a drop below $0.198 risks testing the $0.180 support.
(Source：BeInCrypto)