Pi Coin, the formerly promising Altcoin recently experienced a change of momentum, with brief recovery signs.
However, the positive movement did not last long, because the wider market indices have become lower today, pushing the pepper room in the price table. Currently, the room has trouble maintaining more than $ 0.44.
Pi Coin investors are far from optimistic
Over the past two weeks, the feeling of investors surrounding the PI room has been significantly negative. July was a particularly lower month, with a growing trend in the outings of PI parts holders. This trend indicates a lack of confidence among investors.
The important outings affected the stability of Pi Coin prices. Investors choosing to withdraw money, there is little incitement to new buyers to enter the market. This lack of support further increases the downward trend.
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The technical indicators of Pi Coin, in particular the relative resistance index (RSI), indicate the continuous difficulties. The RSI recently fell into the lower area, under the brand of 50.0, after having briefly attempted to cross a distant territory earlier this week.
This unsuccessful attempt at the momentum of the moment highlights the current incapacity of Pi Coin to capitalize on positive market conditions. The negative RSI is a strong indicator of a market losing traction, which suggests that a decrease is imminent unless the conditions change quickly.
Pi Price is approaching his destiny
The Pi Coin price currently oscillates at $ 0.44, only 9% of its hollow of all time (ATL) of $ 0.40. The recent decline pushed the Altcoin under the $ 0.45 support, indicating a low position. The next level of support for the PI play is crucial because it tries to maintain above its current levels.
With Pi Coin already down 10% in the last two days, the prospects seem dark. If the sales pressure continued, the Altcoin can easily slide below its $ 0.40, forming a new ATL. This would mark a new weakness in the short story of Pi Coin, potentially signaling a longer -term bearish phase.
However, if Pi Coin manages to reverse his course, there is hope for recovery. If it can secure $ 0.45 as a reliable support floor, Altcoin can exceed $ 0.49 and even reach $ 0.51. If these levels are recovered, the lower thesis could be invalidated and a new ascending dynamic can be formed.
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In accordance with the Trust project guidelines, this price analysis article is for information purposes only and should not be considered as financial or investment advice. Beincrypto is committed to exact and impartial reports, but market conditions are likely to change without notice. Always carry out your own research and consult a professional before making financial decisions. Please note that our terms and conditions, our privacy policy and our non-responsibility clauses have been updated.
