Pi Coin has been having problems for the reason that end of November. After peaking towards the tip of the month, the worth has fallen by around 28%, erasing most of its earlier gains. In the last seven days alone, Pi Coin has fallen by around 8.6%, and within the last three months, losses now exceed 40%.
Despite this weakness, the most recent chart data shows that something recent is forming beneath the surface. Momentum pressure is beginning to shift, raising questions on whether the correction could also be on the verge of a pause. Will the pause result in a rebound or a whole reversal? Time to seek out out!
The pressure on momentum is easing, but buyers are still hesitant
On the each day chart, Pi Coin formed a hidden bullish divergence between November 4th and December eleventh. During this era, price made the next low while the Relative Strength Index made a lower low. The RSI measures momentum by tracking buying and selling speed. If the worth stays at higher levels as momentum fades, it is commonly an indication that selling pressure is easing.
Uptrend appears on the Pi chart: TradingView
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This variety of divergence often occurs towards the tip of strong declines. It doesn’t in itself confirm a trend reversal, however it often precedes recovery attempts when sellers begin to lose control.
However, dynamics alone aren’t enough. Chaikin Money Flow, which tracks whether large buyers or sellers dominate volume, still cautions. CMF stays near testing its descending trend line (connecting lower lows) and can also be trading below the zero line. This shows that giant flows of cash aren’t yet supporting Pi Coin.
Big Money Flow Remains Weak: TradingView
To put it simply, selling pressure appears to be weaker, but major buyers aren’t fully engaged. This leaves the rebound setup fragile. Until money flow improves, attempts to maneuver up will likely face resistance. And if the CMF falls below the trendline, the rebound setup (not the reversal) for the Pi Network coin could change into completely invalid.
Pi Coin Price Levels That Will Decide What Comes Next
The PI price chart is now at a call point. For the rebound structure to realize momentum, Pi Coin must reclaim the $0.222 area. A sustained rise above this level would represent a rise of around 7% and signal that buyers are able to defend higher prices again. In this case, the worth could rise towards $0.244 and possibly $0.253 if overall market conditions stabilize.
Only a price move above $0.284 (late November high) could signal a reversal attempt. That point now seems a good distance off.
Support stays slightly below current levels. The $0.203 area is crucial. A each day close below $0.203 would significantly weaken the rebound case and re-expose the bearish move. Failure to achieve this level could see Pi Coin retest the lower areas and push the correction right into a recent phase.
The rebound setup only strengthens as the worth rises while the CMF begins to rise towards zero. Without this confirmation, upside attempts risk quickly stalling.
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Article source: beincrypto.com
Post Pi Coin price falls 28% from November highs – do charts now point to a reversal? appeared first on Crypto Adventure.
