Pi Coin Rebound Hope Hangs by a Thread — And It’s Being Pulled From Both Sides
Pi Coin's recent 3% rebound is fragile as technical indicators show opposing forces between cautious buyers and dominant sellers.Summary
Pi Coin (PI) has seen a slight 3% gain this week following a significant 44% drop over three months, but its rebound potential is precarious due to conflicting technical signals. The Moving Average Convergence Divergence (MACD) is flattening and risks a bearish crossover, similar to past drops of 9% and 49%. Conversely, the On-Balance Volume (OBV) is attempting to break a descending trendline, suggesting weak but returning buying interest. On the 12-hour chart, PI is trading within a symmetrical triangle, indicating indecision. A break above $0.23 could target $0.25 or $0.27, while a failure at the lower support near $0.20 might lead to a retest of $0.19 or $0.15. The Smart Money Index (SMI) is also showing early signs of an upward turn, suggesting some large players anticipate a rebound, meaning PI's immediate direction depends on whether buyers or sellers gain control.
(Source：BeInCrypto)