Pi Coin experienced a volatile October characterized by sharp price fluctuations that saw the altcoin crash and recover within weeks. The disruption has temporarily restored investor optimism, but the broader outlook remains cautious.
Despite the recovery, Pi Coin price still faces an uphill battle to regain lost momentum, and current market signals suggest that many investors may not be fully committed to further recovery attempts in November.
Pi Coin investors express skepticism
The Chaikin Money Flow (CMF) indicator shows that investors are exiting Pi Coin. This week, the CMF fell below the zero line, indicating that outflows are dominating the market. This trend shows that confidence is weakening as traders cash out profits from the recent rally rather than reinvesting them.
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Such consistent outflows often indicate that buying demand has dried up and upside potential is limited. If selling pressure continues, Pi Coin’s outlook could weaken heading into November. Without a change in sentiment, it may become increasingly difficult for altcoins to maintain their current price levels.
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However, the squeeze momentum indicator paints a more nuanced picture. This indicator is showing a growing squeeze at the moment, suggesting that volatility could increase soon. When the bar begins to shift towards positive momentum, this indicator suggests that bullish potential is increasing in the background.
Squeeze releases in uptrends often cause explosive price movements. If this happens during a period of renewed optimism, Pi Coin could experience a sharp rally. Investors and traders alike should watch closely for any signs that the squeeze is poised to be lifted, which could set the tone for price action in November.
PI price has a long road to recovery
At the time of writing, Pi Coin is trading at $0.254, just below the $0.260 resistance. The token’s immediate short-term goal is to reach $0.300, a psychological level that strengthens bullish confidence.
However, if investor sentiment remains weak and capital inflows do not recover, Pi Coin’s price may not be able to break through $0.260. A break above $0.229 could lead to a fall towards $0.209, potentially deepening the current correction.
Conversely, if the altcoin gains momentum and rises to $0.300, it would represent an 18% increase and could attract new inflows. A sustained push could extend the rally to $0.360, allowing Pi Coin to recover September losses and invalidate the bearish theory.
