The Pi coin price structure displays that the crypto had been in a consolidation phase earlier for a long time on the daily chart.
However, the price action highlighted a massive incline on the chart, by breaking the $40 resistance level, it reached the top of $135 and destroyed other hurdles, which included $50.70, $60.93, $73.39, $86.71, and $104.02.
The overall price action structure highlights a pump-and-dump kind of situation on the daily chart, with PI coming back to the lower price levels, this shows the consumption of entire earned profits quickly.
The Pi coin price-performance exhibits that, in the last week price plunged -15.07 % and an intraday loss is -3.44% with a current price at $38.48.
Moreover, the PI coin asset is exhibiting bearish characteristics as it has been trading beneath EMA bands of 20-day and 50-day dynamic resistances, MACD shows a bearish cross below the zero line at -1.51, and the RSI is at 45.28 which is falling smoothly by taking rejection from 14-SMA, thus implying that the PI coin asset is losing momentum and it can achieve new depths, in the coming sessions.
Therefore, if the demand for the PI coin asset declines then buyers will lose more ground and the price could end up back in the previous consolidation range or deteriorate solidly.
On the flip side, the game can reverse entirely and different possibilities could occur if buying demand increases abruptly. A sudden surge in demand could make PI coin turn around from the present level and could give targets like $50.70 and $60.90 easily.
However, the price action highlighted a massive incline on the chart, by breaking the $40 resistance level, it reached the top of $135 and destroyed other hurdles, which included $50.70, $60.93, $73.39, $86.71, and $104.02.
The overall price action structure highlights a pump-and-dump kind of situation on the daily chart, with PI coming back to the lower price levels, this shows the consumption of entire earned profits quickly.
The Pi coin price-performance exhibits that, in the last week price plunged -15.07 % and an intraday loss is -3.44% with a current price at $38.48.
Moreover, the PI coin asset is exhibiting bearish characteristics as it has been trading beneath EMA bands of 20-day and 50-day dynamic resistances, MACD shows a bearish cross below the zero line at -1.51, and the RSI is at 45.28 which is falling smoothly by taking rejection from 14-SMA, thus implying that the PI coin asset is losing momentum and it can achieve new depths, in the coming sessions.
Therefore, if the demand for the PI coin asset declines then buyers will lose more ground and the price could end up back in the previous consolidation range or deteriorate solidly.
On the flip side, the game can reverse entirely and different possibilities could occur if buying demand increases abruptly. A sudden surge in demand could make PI coin turn around from the present level and could give targets like $50.70 and $60.90 easily.