Pi Coin Cannot Afford To Hit The Brakes — A 34% Breakdown Gets Triggered If It Slows
Pi Coin's recent strength is threatened by a bearish head-and-shoulders pattern, risking a 34% drop if it fails to break above $0.29.Summary
Pi Coin has shown strong performance recently, rising almost 11% while Bitcoin and Ethereum declined. However, its chart analysis reveals a hidden trap in the form of a developing head-and-shoulders pattern. The neckline for this bearish structure is near $0.21; a close below this level projects a potential 34% decline based on the pattern's measurement.
Adding to the risk is a hidden bearish divergence shown by the Relative Strength Index (RSI), suggesting the prevailing weak 30-day trend might resume if momentum stalls. To invalidate this bearish setup and continue climbing, Pi Coin must decisively break above the head formation resistance at $0.29.
Key levels dictate the immediate future: breaking $0.29 confirms the rally, but slipping below the $0.20–$0.22 support zone, which contains the neckline, will trigger the full 34% downside target. Therefore, Pi Coin's current uptrend is fragile and dependent on continued upward momentum.
(Source：BeInCrypto)