July was a rough one for Pi Coin. But why does it stop there? Over the past year, tokens have threw away more than 60% of their value. Traders are largely adjusted. But in the first week of August something changed.
Pi bounced back 4.6% from an all-time low, for the first time since July 30th, two short-term bullish moves emerged, suggesting a potential change in emotions.
The Bulls show signs of life for the first time in August
The first notable signal was on a four-hour Bullbear Power chart with a green bar flashing after a session of more than four hours. This is important. The Bulls last signed up on this chart came back in July, but since then the sellers have been completely dominated. Green bar suggests that buying pressure, even for a short time, has overtaken sales force for the first time in weeks.
About Token TA and Market Updates: Want more token insights like this? Sign up for Editor Harsh Notariya’s daily crypto newsletter.
The Bullbear Power Index tracks the difference between high and low during the day compared to the moving average. A green bar appears indicating that the bull is trying to take control. It is often a subtle but early sign of accumulation.
Two-hour chart reveals PI coin trend shifts due to EMA crossovers
The four-hour chart showed the first sign of a purchase of pressure, but there was no clear direction. So we’ll shift to the two-hour chart. This is because it catches changes in early trends and accumulation of momentum that can cause larger time frames to become blurred.
In this lower time frame, the September 15th Exponential Moving Average (EMA) crossover just occurred, with the faster moving 9-EMA (red line) crossing over the slower 15-EMA (orange line). This suggests that buyers will begin to gain control of short-term price action, and will overwhelm sellers for the first time in August. 9/15 EMA is often used to identify early momentum shifts before they appear in higher time frames, and this crossover becomes the associated bullish cues.
Compared to the more commonly used 20/50 period EMA, the 9/15 crossover responds faster to fewer price shifts and is more effective in discovering momentum shifts before they become apparent in longer time frames. However, it provides previous signals, but is also sensitive to noise, so checking from price structure and quantity is still essential.
PI Coin Price: About Pennant Patterns and Key Breakout Levels
On the same two-hour chart, PI’s prices are also pushed against the bullish pennant’s top trend line, solidly combining nearly $0.35. A clean candle above that level could unlock short legs higher with a short-term target of nearly $0.36.
Daily PI Coins The price list confirms that these levels are important zones of resistance. The 0.36 mark matches the previous limit of rejection, followed by $0.39.
The PI price invalidation is near $0.32. If it breaks, the current pattern will fail, allowing for a fresh low value.
Post PI Coin Prices will make two bullish moves in August. Do buyers still want a slice of PI? It first appeared in Beincrypto.
