Pi Coin is struggling to maintain its upward momentum as prices face consolidation following a long downtrend.
At the time of writing, the cryptocurrency is hovering at around $0.383 and cannot break through the $0.401 resistance. Investor behavior is inconsistent, promoting volatility and putting Altcoin in a vulnerable position.
PI Coin Holder Shows Mixed Emotions
Investor sentiment for Pi Coin has dipped sharply, reaching four-month lows. The drop highlights the decline in enthusiasm as traders become increasingly cautious. The lack of bullish belief suggests that many holders are uncertain about Pi Coin’s future.
The sudden decline in emotion occurred within the last 24 hours, and was probably driven by an impatience over stagnant price behavior. Many investors expected stronger returns, but they didn’t generate upward momentum, which sparked anxiety.
Despite the bearish feelings, Pi Coin’s macro momentum shows some resilience. The Chaikin Money Flow (CMF) indicator is currently located above the zero line, reflecting a stronger inflow into the assets.
These influxes suggest opportunistic purchases, with investors looking to take advantage of discounted prices. If the influx continues, PI coins can benefit from new market interests, especially when broader crypto sentiments change positively.
PI Coin Price Can’t Break Resistance
The Pi Coin traded for $0.383 and has recently been unable to break beyond the $0.401 resistance. If you can’t move higher, your assets will be locked into a downward trend. Without strong support from market participants, cryptocurrencies risk further expanding their integration patterns.
Based on current terms, Pi Coin may continue to consolidate under $0.401 in the short term. A deeper decline could reduce the price to $0.362, which will be the next important level of support. Losing this point will increase bearish control and limit the chances of quick rebounds.
However, improving emotions can change the story. If Pi Coin beats $0.401 and secures it as support, the price could rise to $0.440. Such a move will negate the bearish outlook and signal the reversal of Altcoin’s new optimism and potential trends.
The post PI coin holder sentiment is the worst in four months, but the price didn’t affect Beincrypto in the first place.
