PI was in a persistent decrease trend since it reached a summit of $ 3 on February 26. In fact, he exchanged below a tendency line descending since April 12, highlighting the negative bias against Altcoin.
However, the tide can finally turn. The technical indicators now indicate a possible optimistic resurgence, referring to a short -term PI rebound.
The silent pi accumulation phase could trigger a rally
Beincrypto evaluation of the graph of a day Pi / USD suggests that the Altcoin could prepare for a bullish break. For example, its volume on balance (REBR) has increased in the last two days, showing the first signs of accumulation.
The REBR indicator uses the volume of trading to predict price movements, adding volume on the days up and subtracting it on decreasing days. When its value increases like this, it suggests an increase in purchase pressure.
The OBV is considered a leading indicator, which means that it often progresses on price action and can report changes in the feeling of the market before they are reflected in the price of the assets. Therefore, the Montvant de Pi obvr indicates that buyers quietly accumulate the token, even if its price remains moderate.
This divergence indicates that the optimistic impulse is built, increasing the probability of an Evasion Pi once wider than the feeling of the market aligns.
In addition, the red bars forming the Bbtrend Pi indicator have gradually shrunk. This reduction suggests that the sales pressure is weakening, serving as an early signal that the current downward trend can lose steam.
In the technical analysis, a contraction in the Bbtrend histogram is a precursor of a potential tendency reversal, in particular when accompanied by an increase in volume and other bull indicators.
As the bars are shortening, this indicates that volatility stabilizes on the PI market and that a change of bull price is more and more likely.
Pi for inversion as bull signals indicate an $ 1 escape
PI is currently negotiating at $ 0.591, resting below its descending trend line, which is a resistance above $ 0.605. If the upward pressure is strengthened and Pi requires rockets, it could switch this price in a support floor and climb to $ 1.01.
On the other hand, if the sales persist, the Pi token could review its low $ 0.40.
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