Pi Coin investors are finally seeing signs of relief after enduring one of the steepest declines in recent weeks. The cryptocurrency fell to a new all-time low last week following a 33% crash, but is now attempting a recovery.
Encouraging technical signals suggest that the downward pressure may soon ease as investors re-enter the market.
Pi Coin Holders Show Optimism
The Chaikin Money Flow (CMF) indicator is showing a strong uptick this week, reflecting renewed investor confidence. Capital inflows are rising quickly as traders take advantage of lower prices, pushing Pi Coin toward a potential reversal.
The surge in buying interest suggests that accumulation is underway, reinforcing bullish sentiment in the short term. This increase in inflows is crucial for Pi Coin’s recovery.
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From a technical perspective, Pi Coin’s Moving Average Convergence Divergence (MACD) indicator is on the verge of a bullish crossover. This would mark the second attempt this month, indicating that buying momentum is returning.
A successful crossover could validate the renewed optimism and set the tone for a potential trend reversal after a month of bearish pressure. This would likely attract additional market participants, increasing both liquidity and trading activity.
PI Price Needs A Boost
At the time of writing, Pi Coin’s price stands at $0.214, slightly below the $0.229 resistance level. The altcoin is holding firmly above its $0.200 support, which serves as a critical base for recovery.
While Pi Coin has rebounded from its all-time low of $0.153, it still needs to reclaim significant ground to reverse the 33% crash. A decisive move above $0.229, supported by bullish technical indicators and investor confidence, could push the price to $0.256.
However, losing the $0.200 support would expose Pi Coin to renewed selling pressure. If that happens, the price could drop toward $0.180 or lower. This would invalidate the bullish outlook and signal continued vulnerability in the market.
The post Pi Coin Holders Attempt to Recover From Painful 33% Price Collapse appeared first on BeInCrypto.
