Pi Coin Holds Gains in a Red Market — Another Breakout At 6.5%?
Pi Coin remains positive this month despite a market downturn, showing strength supported by Money Flow Index and OBV indicators, nearing a 6.5% breakout.Summary
Pi Coin (PI) is demonstrating unusual strength, holding gains and remaining up almost 18% month-on-month while Bitcoin and Ethereum have dropped significantly. This positive trend is supported by technical indicators: the Money Flow Index (MFI) broke its trend line on November 16, confirming early buyer activity, and the On-Balance Volume (OBV) line broke out on November 18, suggesting smaller traders are joining the upward move. Furthermore, PI's seven-day correlation with Bitcoin is near -0.87, meaning it moves inversely to BTC, which explains its performance during the broader market correction. The 4-hour chart shows PI trading above major EMAs, with the 50-period average approaching the 200-period average, hinting at a potential golden crossover that would confirm short-term strength. Key resistance is set at $0.25; a clean daily close above this level, requiring a 6.5% move, could unlock further upside toward $0.31 and $0.34, while support lies near $0.23.
(Source：BeInCrypto)