While the rest of the cryptography market is looking for parts that push peaks of all time, the Pi Coin (PI) price was busy doing the opposite, marking fresh, one after the other. The Pi token is down 1.2% in the last 24 hours and almost 25% in the last month. The last lower of all time? Yesterday.
However, some technical signals now indicate that the PI price can approach a short -term reversal. A particular divergence on the graph, associated with a weakening of the sales pressure and an increase in feeling, could be the turning point.
Bear lose their edge while the bull power changes
Sellers have firm control over the PI trend for weeks. This is why the bull power indicator (BBP) is important at the moment. When the downward resistance begins to disappear after a prolonged downward trend, it can often point out that sellers lack steam.
This is what the graph is starting to show. The BBP has been increasing since August 1, going from a deeply negative area to a less aggressive impression, similar to what happened between July 15 and 21. At the time, the Decoloré lowering impulse preceded a passage from $ 0.45 to $ 0.52.
The bull power indicator follows the difference between the highest price and a short -term mobile average to show whether the bulls or bears are currently controlling.
Support this social domination, which measures the share of the cryptographic conversation on PI. Between August 1 and 3, PI’s social domination formed a three -day higher sequence of high highs, just as it did between July 15 and 23. This anterior section aligned itself on a local background and led to this increase at $ 0.52.
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The alignment of the feeling and the weakening of the lower force now adds weight to the idea that the PI price could prepare for another lightness.
RSI shows a bullish divergence, but the price of the PI room must answer
The relative resistance index (RSI) is currently at 23.37, indicating the territory of occurrence. But beyond the number, the model it forms is more important.
The PI price recently made a higher hollow, while the RSI has made a lower hollow. This configuration is known as an increased divergence hidden, and it is often seen in front of local funds.
At first glance, a falling RSI may seem to be a bearish. But when the price does not follow it lower, it is generally a sign that the time of decline is weakening, even if the sellers try to push. It shows that the power pressure does not slide the price, which can be a bomb signal.
However, this type of RSI divergence does not confirm a rebound, especially when the price of Pi Coin is down. It’s more like a subtle early sign.
For this, the price must go through the resistance.
RSI is a momentum oscillator who follows the speed and variation in price movements. Readings less than 30 often point out an active asset with an inversion potential.
Pi Price must erase $ 0.369 to report a breakup
The Pi Coin price is currently negotiating about $ 0.35. Based on the Fibonacci retracement from July 22 ($ 0.52) at the lowest of July 31 ($ 0.32), the next main resistance is $ 0.36, followed by $ 0.39 and $ 0.42.
A daily fence greater than $ 0.39 would be the first sign that the bulls are back. But if Pi breaks below $ 0.32, the configuration of raised divergence would be invalidated and the trend could continue to drop.
Until then, the Pi Coin graphic may always seem heavy, but for the first time in weeks, there are reasons to believe that its trajectory could change. However, this probable discrepancy must be supported by an Improvement of RSI (perhaps a higher or lower) and an additional dive of the bearish pressure.
PO PO Coin life could become easier if a key divergence takes place first on Beincrypto.
