Pi Coin investors are finally seeing signs of relief after enduring one of the steepest declines in recent weeks. The cryptocurrency fell to a new all-time low last week following a 33% crash, but is now attempting a recovery.
Encouraging technical signals suggest that the downward pressure may soon ease as investors re-enter the market.
Pi Coin Holders Show Optimism
The Chaikin Money Flow (CMF) indicator is showing a strong uptick this week, reflecting renewed investor confidence. Capital inflows are rising quickly as traders take advantage of lower prices, pushing Pi Coin toward a potential reversal.
SponsoredThe surge in buying interest suggests that accumulation is underway, reinforcing bullish sentiment in the short term. This increase in inflows is crucial for Pi Coin’s recovery.
Want more token insights like this? Sign up for Editor Harsh Notariya’s Daily Crypto Newsletter here.
From a technical perspective, Pi Coin’s Moving Average Convergence Divergence (MACD) indicator is on the verge of a bullish crossover. This would mark the second attempt this month, indicating that buying momentum is returning.
A successful crossover could validate the renewed optimism and set the tone for a potential trend reversal after a month of bearish pressure. This would likely attract additional market participants, increasing both liquidity and trading activity.
PI Price Needs A Boost
At the time of writing, Pi Coin’s price stands at $0.214, slightly below the $0.229 resistance level. The altcoin is holding firmly above its $0.200 support, which serves as a critical base for recovery.
While Pi Coin has rebounded from its all-time low of $0.153, it still needs to reclaim significant ground to reverse the 33% crash. A decisive move above $0.229, supported by bullish technical indicators and investor confidence, could push the price to $0.256.
However, losing the $0.200 support would expose Pi Coin to renewed selling pressure. If that happens, the price could drop toward $0.180 or lower. This would invalidate the bullish outlook and signal continued vulnerability in the market.
