Pi Coin Is Pumping — Price Rally Could Extend If This Key Breakout Holds
Pi Coin rallied nearly 24% but faces bearish divergence signals, needing to break $0.28 resistance to sustain the rally.Summary
Pi Coin (PI) has seen a nearly 24% price rally in the last 24 hours, although it remains down over 40% in the past three months, suggesting the broader downtrend persists.
Technical indicators show underlying weakness; the RSI exhibits a hidden bearish divergence (lower high in price, higher high in RSI), and the Money Flow Index (MFI) also shows a lower high despite a higher price high, mirroring a pattern that preceded a 48% drop previously.
Despite bearish signals, short-term charts suggest potential upside, with the 20-period EMA crossing above the 50-period EMA, potentially pushing the price toward $0.27. However, the critical level is $0.28, where PI is currently facing resistance within a falling broadening wedge pattern. Clearing $0.28 could confirm a bullish breakout toward $0.36, but failure to break this level might lead to a decline toward $0.20 or $0.15.
(Source：BeInCrypto)