In recent days, Pi Coin has shown a downward trend, reflected by a 25% decrease over the past four days. This article analyzes current support levels and technical indicators.
Current Price Trends of Pi Coin
The price of Pi Coin is in a downward trajectory, noted for four consecutive days. The current price hovers around $0.70 after reaching a high of $0.729 and a low of $0.68. Yesterday's market fluctuations spanned from $0.74 to $0.68.
Technical Indicators and Their Impact
According to technical analysis, many indicators suggest continued decline. The RSI stands at 28.169, indicating aggressive selling. Similarly, signals from other indicators like the Stochastic Oscillator and MACD confirm a bearish trend. The ADX shows a strong trend with a figure of 37.177, emphasizing the negative market condition for Pi Coin.
Price Forecast for the Near Future
Despite the current negative trend, there is a potential for short-term bounce if the price holds above the support level at $0.71. If this mark is broken, a rapid drop to the level of $0.619 could occur. Conversely, if it holds above $0.71, the price could recover towards $0.76 or retest the $0.82 area.
Current technical indicators and market dynamics indicate a bearish sentiment for Pi Coin. Investors should closely monitor support levels and sales to understand the future price trajectory.
