Pi Coin is trading on a long-term downtrend and is struggling to regain momentum as the broader market situation remains cautious.
Nonetheless, Altcoin shows a possible breakout. Technical indicators show that bear pressure is weakened and there is room for potential shifts.
PI Coins may break out
The relative strength index (RSI) now forms an exaggerated bullish divergence. Unlike standard divergence, this pattern is subtle, but still suggests that existing downtrends are losing power. It doesn’t check for an immediate reversal, but it shows that the seller is running out of steam.
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The development positions PI Coin for potential breakouts in the near future. As investors’ sentiment changes, differences suggest that buyers can gradually regain control. If the market is stable, PI Coins could move from the integration phase to a fresh ascent meeting.
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Moving average convergence divergence (MACD) further supports bullish cases. The indicator maintained a bullish crossover for almost a month and rejected attempts to flip the bears. This consistency emphasizes that despite short-term volatility, upward momentum is still active.
Recently, a short, fake bearish crossover has appeared, but MACD continues to bullishly point to resilience among Pi Coin holders. This permanence emphasizes that buyers are ready to adhere to critical levels. This will ultimately help cryptocurrency ensure a breakout over immediate resistance.
PI price must violate barriers
At the time of writing, the Pi Coin priced at $0.353 and its critical resistance is below $0.360. Flip this level over onto the support floor and Rally opens the door towards $0.381 and marks the first step in reverse the downtrend.
If achieved, this breakout effectively ends the continuous decline. It considers both the divergence of RSI and the persistent bullish outlook of MACD. This scenario appears to be increasingly likely, provided that the broader market conditions remain neutral to positive.
However, the risk remains. If bullish momentum weakens, Pi Coin could slip through $0.351 and drop to $0.340. Below this poses the threat of testing an all-time low, nullifying bullish outlook and raising further concerns for investors.
