Pi Coin Price Fails a 60% Breakout, What Now?

Pi Coin's price collapsed after a bullish flag breakout attempt on February 17 failed to sustain gains above $0.19, causing the token to drift near $0.16. Technically, a hidden bullish divergence between the price's higher low and the Relative Strength Index (RSI)'s lower low suggests a potential bounce, provided PI holds the critical $0.16 support level.

However, broader indicators signal weakening confidence; social volume has dropped sharply by 83% since February 16, mirroring a pattern that preceded a previous price collapse. Furthermore, the Chaikin Money Flow (CMF) remains below zero, indicating continued capital outflow, which explains the failure of the recent rally.

Despite weak institutional interest, On-Balance Volume (OBV) shows rising retail accumulation, which is currently supporting the price. If PI holds $0.16, it might target $0.18 or $0.20, but a break below this level could lead to a deeper decline toward $0.13.

(Source：BeInCrypto)