Why Pi Coin’s Failed Breakout Isn’t the End of Its Month-Long Rally?
BeInCrypto
Despite a recent failed breakout, Pi Coin shows bullish signals with rising EMAs and positive money flow, suggesting its month-long rally may continue.Summary
Pi Coin has demonstrated resilience this month, gaining 0.8% today and 11.5% over the past month despite a recent failed breakout attempt. Technical indicators suggest the rally isn't over, as the 20-period EMA is closing in on the 50-period EMA on the 4-hour chart, signaling a potential bullish crossover. The Bull-Bear Power indicator also confirms continued buyer control. However, Pi Coin continues to struggle with the $0.229 resistance level. The Chaikin Money Flow (CMF) indicator is crucial; as long as it stays above its rising trendline, buyers have a path to regain control. A break above $0.229 could lead to targets of $0.236 and $0.266, while a fall below the CMF trendline could see Pi Coin revisit $0.201.
(Source：BeInCrypto)