Pi Coin Ends 7-Month “Silence”; Price is Ready For Big Swings
BeInCrypto
Pi Network (PI) is consolidating near a Fibonacci level, with increasing volatility and a negative Bitcoin correlation suggesting potential price declines.Summary
Pi Network (PI) is currently trading at $0.1883, struggling to maintain gains after failing to hold above $0.29. After a seven-month period of low volatility, realized volatility has increased significantly, and PI’s correlation with Bitcoin has turned negative. This negative correlation means that if Bitcoin rises, PI is likely to fall, removing a key potential recovery catalyst. Technical analysis reveals a double top pattern, projecting a possible 33% price drop towards $0.1300, with key support levels around $0.1527. A daily close below $0.1894 would confirm a failed recovery, while a close above $0.2103 could shift the outlook to neutral.
(Source：BeInCrypto)