We expected yesterday that the Pi Coin might face the declining pressure and the support level test of $ 1.40 before combining between $ 1.40 and $ 1.50 throughout the day. The potential recovery is considered to be seen at $ 1.55 if the market morale improved, although the collapse above the previous highlands seemed unlikely.
The price of Coin PI has since showed flexibility, as it is currently trading at $ 1.50 with a 3 % increase for this day. However, the trading volume decreased by 44.38 %, indicating a decrease in market activity. While buyers can maintain the price higher than the main support levels, low size indicates uncertainty about continuous momentum.
Technical indicators indicate mixed market conditions
The PI Coin price continues to exceed the upward support line, which was a key to preventing the price from a severe decrease. The currency wore this line several times, which indicates the importance of this. The 1.70-1.80 dollar range still prevents the price from moving up.
For all Investing.com, market morale is careful. Some indicators show a moderate upward trend while others are still neutral. MACD (12,26) is 0.003, which generates a purchase signal, indicating some of the upscale momentum. However, the relative power index in 53.86 is still neutral, indicating that the original is not in its arrest or excessive sale, which leaves the room for movement in any of the two directions.
The final oscillator Sitting in 62.84, indicating that we must buy. This indicates a potential upward movement. The change rate (ROC) is 3.473, which also indicates purchase. This confirms that the price acquires strength and transition. Despite these bullish indicators, moving averages remain neutral, which means that there is no clear confirmation of a strong direction.
Pi Coin Price Outlook for today
With the current market structure, Pi Coin price procedures will rely on whether buyers Control at the support level of $ 1.50 can be maintained. If this level continues, a potential movement may be revealed towards the resistance area from 1.70 to $ 1.80 in the short term. However, if the sale pressure increases and the price decreases to less than $ 1.50, the decrease may be about $ 1.30 is the next scenario.
Merchants should closely monitor the size directions. The rise in trading activity can indicate an attempt to break the resistance, while the low continuation may lead to a group -related movement or the downside.
Also read: Why do Toncoin? How high a ton?
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