PI Coin at a Crossroads: Bulls Eye $0.69 While Bears Lurk at $0.54
PI Coin traders brace for volatility as the digital asset teeters between two critical price thresholds. Will the crowd mined crypto defy skeptics or succumb to gravity?
Technical analysts are split—some see a sprint to $0.69 if buying pressure holds, while charts suggest $0.54 could trigger a sell-off. The coin's unusual distribution model continues to polarize crypto purists.
Meanwhile, Wall Street quietly mints another stablecoin-backed ETF—because nothing screams decentralization like financial intermediaries repackaging your assets.
PI OI-Weighted Funding Rate, Source: Coinglass
The Open Interest (OI)-Weighted Funding Rate for the PI shows a shift in the market sentiments. The yellow line shows the price movement of the token in different time frames, in this case 8H, while the colored one shows the funding rate. When it is green, it’s positive, and red when it’s negative.
After evaluating the on-chain sentiments, let us now explore the possible short-term PI coin price prediction!
The Moving Average Convergence Divergence (MACD) indicator shows a neutral price trend in the daily time frame. Additionally, the 12- and 26-day EMAs recorded a similar trend in the PI coin price chart. This trend highlights a cool-off in the price action for the altcoin in the market.
On the other hand, the Bollinger Bands (BB) with a 20-day Simple Moving Average (SMA) record a decrease in the volatility. Further, it is steadily trading within the bearish range, highlighting negative influence. This shows weak price movements.
Considering the PI coin sentiments, the immediate resistance for the PI crypto price is $0.6975. The value of this altcoin could possibly breach the $0.8525 mark and head toward the $1 range if the bullish sentiment intensifies.
Negatively, the PI crypto has key support levels of $0.60 and $0.54, respectively. In case of increased liquidation in the market, it may face a setback toward a new multi-month low in the upcoming time.
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