Puffer
Bitcoin
ZKsync
NEAR Protocol
Walrus
Pearl
Ondo
- PI crypto is currently trading at $39.87 with a drop of 0.61% and a market cap of $2,673,906,194.
- PI paused a good surge and gave a negative return of 13% this week.
- The crypto is trading in the bearish region. It is trading at $39.87 with a volume of $131,507. It has a market cap of $2,673,906,194.
The crypto performed poorly this year, giving a return of 23.01% to its investors since the beginning of the year. However, recently, the crypto has shown signs of weakness, as it failed to break above the resistance level. PI crypto is also trading below the key moving averages, which are bearish signals.
As per TradingView, out of 26 indicators,11 are on the sell side, 10 are on the neutral side, and 5 of them indicate a buy signal. However, the overall weightage of indicators is on the sell side.
Will Pi Coin Price Rebound From Lower Level?
Based on the technical chart, PI encountered a sharp rejection from the upper trendlines and fell below the 50 EMA line. Furthermore, it is currently moving towards the 200 SMA line.
The MACD recently crossed below the middle line and is currently heading downwards. This indicates bearishness in the crypto. The RSI line is currently moving towards an oversold zone, having already crossed the median line. It is below the 14 SMA line, which demonstrates bearishness.
Technical Analysis Of PI Coin On 4-H Timeframe
In the 4-hour charts, PI crypto is on the cusp of a long-awaited breakdown, which will happen when the price falls below $37. However, buyers are trying to accumulate the crypto by defending it from the support of $36.
The RSI shows that sellers are present, as the curve is hovering around 34, indicating that the crypto is oversold. This could mean that sellers are starting to lose control of the crypto. However, the RSI is still in the neutral zone, so it is too early to say for sure that a breakdown is imminent.
MACD indicates bearish momentum, as the indicator is maintaining red bars on the histogram. This suggests that the momentum in the crypto is bearish. However, the MACD is not yet in the oversold zone, so there is a possibility that the crypto could stage a rally before breaking down.
Conclusion
PI crypto is currently trading at $39.87 with a drop of 0.61% and a market cap of $2,673,906,194. The crypto had a poor performance this year, as it gave a return of 23.01% to its investors since the beginning of the year. The overall weightage of indicators is on the sell side. Based on the technical chart, PI encountered a sharp rejection from the upper trendlines and fell below the 50 EMA line, moving towards the 200 SMA line. The RSI line is currently moving towards an oversold zone, having already crossed the median line. In the 4-hour charts, PI crypto is on the cusp of a long-awaited breakdown, which will happen when the price falls below $37. MACD indicates bearish momentum, as the indicator is maintaining red bars on the histogram.
Technical Levels
Support Levels: $35 and $30
Resistance Levels: $41 and $45
Disclaimer
This article is for informational purposes only and provides no financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your research before making any financial decisions.
