Pi Coin Sees Rare Buying as Network Migration Jumps 60% — Bottom Finally In?

Pi Coin price is showing early signs of recovery, up almost 3%, coinciding with a sharp 60% jump in Pi Network's mainnet migration, which now exceeds 16.2 million coins moved to the live blockchain, indicating increased user participation.

Despite this fundamental improvement and negative exchange netflow suggesting accumulation (more coins leaving exchanges than entering), technical analysis presents a bearish outlook. The chart displays an inverted cup and handle pattern, and a hidden bearish divergence on the RSI (lower price high vs. higher RSI high) signals weakening momentum.

Smart money activity remains supportive, having previously fueled a rally, and is attempting to rise again. For a confirmed recovery, Pi Coin must reclaim resistance at $0.187 and then $0.207 to invalidate the bearish pattern. Conversely, a daily close below $0.154 could confirm a breakdown, potentially leading to a new low near $0.108.

(Source：BeInCrypto)