Pi Coin Price Still In Green, Yet The Chart Now Shows 3 Red Flags — Pullback Soon?
Despite a monthly gain, Pi Coin's chart shows three bearish signals suggesting an imminent pullback.Summary
Pi Coin (PI) is currently trading near $0.226, maintaining a 9% gain over the past month, but short-term technical indicators suggest its recent bounce might be losing momentum.
Three key red flags are flashing: 1) A bearish engulfing pattern on the daily chart, which has historically preceded sharp price drops for PI. 2) The On-Balance Volume (OBV) indicator has broken below its rising trend line, signaling a shift where sellers might take over. 3) A hidden bearish divergence on the Relative Strength Index (RSI) indicates that the broader downtrend remains in control.
For buyers to invalidate these bearish signs, PI must reclaim $0.230 and then break $0.236 with strong volume. If a pullback occurs, the critical support levels to watch are $0.219, followed by the rebound base at $0.209.
(Source：BeInCrypto)