Pi Coin investors are finally starting to feel some relief after enduring the steepest decline in recent weeks. Cryptocurrencies hit record lows last week after plummeting 33%, but are now trying to recover.
Technical signals suggest that downward pressure may ease soon as investors re-enter the market.
Pi coin holders express optimism
The Chaikin Money Flow (CMF) indicator has shown strong gains this week, reflecting renewed investor confidence. Capital inflows are rapidly increasing as traders take advantage of the price drop, pushing Pi Coin towards a possible reversal.
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The surge in buying interest suggests that accumulation is underway, reinforcing bullish sentiment in the short term. This increased inflow is crucial for Pi Coin’s recovery.
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From a technical perspective, Pi Coin’s Moving Average Convergence Divergence (MACD) indicator is on the verge of a bullish crossover. This is the second such attempt this month and shows that buying momentum is returning.
A successful crossover could demonstrate renewed optimism and set the tone for a potential trend reversal after a month of bearish pressure. This could attract additional market participants and increase both liquidity and trading activity.
PI price needs to be increased
At the time of writing, Pi Coin price is $0.214, just below the resistance level of $0.229. The altcoin is firmly above the $0.200 support, which is a key foundation for a recovery.
Pi Coin has rebounded from its all-time low of $0.153, but it still needs to regain significant ground to reverse its 33% plunge. Supported by bullish technical indicators and investor confidence, a decisive move above $0.229 could push the price to $0.256.
However, losing the $0.200 support will put Pi Coin under fresh selling pressure. If that happens, the price could fall below $0.180. This would invalidate the bullish outlook and signal continued market fragility.
