Pi Coin Takes A Bearish Hit —But Early Relief Metrics Hint At A Comeback

Pi Coin experienced a recent 7% drop over 24 hours, aligning with a broader market pullback, though its monthly loss of nearly 8.7% is less severe than Bitcoin's 21% or Ethereum's 26% decline. This drop followed a bearish 20-period EMA crossing below the 100-period EMA on the 12-hour chart. However, two internal metrics suggest the selling pressure might be easing: the Relative Strength Index (RSI) shows a hidden bullish divergence (higher price low, lower RSI low), and the Chaikin Money Flow (CMF) indicator, which has historically correlated with PI price movements, is still above zero and beginning to curve upward. For a confirmed rebound, PI needs to reclaim the $0.238 resistance level, with subsequent targets at $0.255 and $0.266. Crucially, buyers must defend support around $0.225 and $0.223; losing these levels would invalidate the bullish divergence and shift focus lower towards $0.209.

(Source：BeInCrypto)