Pi Coin continues trading sideways and is stuck in a narrow area that has been keeping its tokens down since the beginning of the month.
Despite this stagnant price movement, PI owners appear to be adopting a cautious “nowhere” strategy.
PI coin holders are getting bullish
The influx of investors into PI coins shows signs of a recovery. Over the past 48 hours, the indicator has registered a sharp rise and hinted at new capital gains. However, it remains below zero lines, indicating that a conviction has not yet been fully established.
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If the indicators can cross positive territory, we will see a stronger change in investor attitude. This move shows the real influx to PI coins, helping cryptocurrencies escape long-term lateral trading patterns.
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The broader sentiment surrounding PI coins is gradually improving. Key investor sentiment indicators reflect bearish pressures that approach neutral marks and are waning. There is some attention left, but confidence is back in the market.
This continuation of positive trajectory will help support Pi Coin prices in the near future. If optimism is further strengthened, assets can build enough momentum to ultimately be released from their sustained integration zone.
PI prices may be considering recovery
At the time of writing, the Pi Coin priced at $0.345 and its resistance level is below $0.351. Attempts to pass this barrier over the past 10 days have failed, highlighting a lack of sufficient purchasing power.
Cryptocurrency continues to remain stable near the support level of $0.343. If investor inflows are strengthened, Pi Coin could compromise $0.351, engaging it in support, and rise to $0.360 in the short term.
However, weak market conditions pose serious risks. If sentiment fails to improve, PI Coin may slip to $0.334 support. Such a drop brings the token dangerously close to an all-time low of $0.322, negating bullish prospects.
