Pi Coin Price Falls 28% From November Highs — Do Charts Now Hint At Reversal?
Pi Coin has dropped 28% since November highs, but chart divergence suggests a potential pause in the correction, though buyer commitment remains weak.Summary
Pi Coin's price has fallen approximately 28% since its late November peak, continuing a three-month decline exceeding 40%. Despite this weakness, daily chart analysis reveals a hidden bullish divergence between price making a higher low and the Relative Strength Index (RSI) making a lower low, suggesting selling pressure might be easing.
However, momentum alone is insufficient for a reversal, as the Chaikin Money Flow (CMF) remains below zero and close to testing a descending trend line, indicating that large buyers are not yet committed. If the CMF breaks below its trendline, the potential rebound setup could be invalidated.
For a rebound to gain traction, Pi Coin needs to reclaim the $0.222 level, potentially targeting $0.244 and $0.253. A sustained move above $0.284 would signal a true reversal. Crucially, support lies at the $0.203 zone; a daily close below this level would severely weaken the rebound case.
(Source：BeInCrypto)