Did Pi Coin’s Price Just Lose Its Shot At Recovery As 32% Jump Fails?

Pi Coin (PI) experienced a sharp 32% price increase in 24 hours, but this rally appears to have been used by investors to offload holdings, leading to significant capital outflows. The Chaikin Money Flow (CMF) indicator shows a steep downtick to a near two-month low, signaling growing bearish sentiment that could limit near-term recovery. Conversely, the Relative Strength Index (RSI) spiked into positive territory, suggesting renewed bullish momentum. However, persistent selling pressure from these outflows may offset the positive RSI signal, keeping the price range-bound. At the time of writing, PI was trading at $0.229, holding above critical support at that level. A bounce from $0.229 could lead to $0.256, but a failure to hold this support might see the price drop to $0.209 or $0.198, confirming a short-term bearish continuation.

(Source：BeInCrypto)