Pi Coin Tests Critical Support: Technical Setup Suggests Potential Reversal After Prolonged Downtrend
Pi Coin has risen 6% to $0.1881 over the past 24 hours, lifted by broader market Optimism following a softening in geopolitical tensions. Despite the daily gain, the token remains down 9% for the week and is trading a staggering 93% below its all-time high (ATH) of $2.99 from February 2023. Technical analysis, however, hints at a potential inflection point.
The altcoin appears to have established a key support level around $0.180. Notably, its Relative Strength Index (RSI) has remained below 50 for eight consecutive months—an extreme oversold condition that historically precedes either a significant breakout or a decisive breakdown. The long-term trajectory may hinge on the project's ability to deliver on community-driven utility enhancements, which could pave the way for a bullish recovery scenario.
