Pi Coin has been faced with a constant drop in the past two months, without any signs of recovery in sight. Currently, trading at $ 0.45, Pi Coin is dangerously close to its hollow of all time (ATL) of $ 0.40.
All key indicators indicate a continuous weakness in the action of the parts of the part, which makes cryptocurrency vulnerable to new losses.
Pi Coin is in trouble
The relative resistance index (RSI) is a key indicator that paints a dark image for the PI room. Currently seated in the lower area below the neutral brand 50.0, the RSI suggests that the momentum is in full effect.
The indicator is not close to the areas of occurrence or neutral, which means that neither a reversal nor a wave of the bullish impetus are imminent. This confirms that the downward trend should continue, unless there is a sudden change in the feeling of the market. Given the current RSI position, Pi Coin could face new decreases in the coming days.
Pi Coin macro momentum also supports the lowering perspectives. The Cloud Ichimoku, another crucial technical indicator, is currently above the candlesticks. This positioning generally signals a continuation of the lower momentum, further confirming the downward trend.
As the cloud indicates, the Pi Coin market structure is weakened, which means that Altcoin will probably be faced with additional pressure from the sellers in the near future. Investors must be careful, as current market conditions suggest that a new ATL could be on the horizon.
Will Pi Price still fall?
At the time of writing the editorial time, Pi Coin is negotiated at $ 0.45, having validated its downward trend last week. Altcoin is only 11.19% of the drop in its ATL $ 0.40, a critical level of support that could trigger even more drops.
With all the technical indicators pointing towards a continuous decrease trajectory, it is likely that Pi Coin will have trouble getting out of this short -term decrease trend.
Despite the overall downward trend, Pi Coin always has more than $ 0.45 in support. If cryptocurrency can maintain its position and successfully bounce on this level, it can see a modest increase at $ 0.49 or $ 0.51.
However, he must cross these resistance levels to reverse the downward trend. Until then, the lower thesis remains intact and any attempted violation of $ 0.50 could point out the start of a reversal.
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