Resistance

Daily

Coin

<ul class="list-ic vertical">
 <li><span>1</span> <a>The PI coin price signifies a rejection from the supply zone of $100. </a></li>
 <li><span>2</span> <a>Technical indicators favor the bears and suggest a retracement ahead. </a></li>
</ul>
<p>The PI coin price displayed a selloff, regressing from the strong resistance mark of $100. Afterward, the coin stretched the retracement and retested the 20-day EMA mark. The sellers continued pushing the coin and followed the selling pressure, which led to a fall below the support zone of the $50 mark. Furthermore, the trend is bearish, and further short additions will make bulls tangled and may result in a correction ahead.</p>
<p>The PI coin (PI) price was trading at $38 at press time. with an intraday gain of 4.53%, reflecting bearishness on the charts. It has a monthly return ratio of -27.70% and 53.90% on a yearly basis. Analysts are neutral and suggest that the PI coin may face bearishness and will retest the demand zone of $25&nbsp; soon.</p>
<h2 class="wp-block-heading" id="strong-pi-coin-price-volume-profile-on-daily-timeframe-strong"><strong>PI Coin Price Volume Profile on Daily Timeframe</strong></h2> 
<p><a href="https://www.tradingview.com/chart/PIUSDT/sG4sNAes-PI-Coin/" rel="noopener noreferrer nofollow"></a><a href="https://www.tradingview.com/u/TheCoinRepublic/" rel="noopener noreferrer nofollow"></a><a href="https://www.tradingview.com/" rel="noopener noreferrer nofollow"></a></p> 
<p>In the daily timeframe, the <a href="https://www.thecoinrepublic.com/2024/04/08/a-new-class-of-profitable-meme-coins-to-surpass-the-animal-tokens/" target="_blank" rel="noopener noreferrer nofollow">coin</a> displayed massive volatility, and sharp pump-and-dump activity led buyers and sellers to be trapped in the past weeks. The coin gained intense momentum at the beginning of March 2024, and a gigantic up move of over 238% was noted within a week. Afterward, bulls failed to hold the gains, and sellers entered the battle, resulting in slippage of over 80% in the past week. However, the coin still trades above the midline and has the potential to retain the $50 mark. The intraday trading volume was $2.30k, signifying average investor interest.</p>
<h2 class="wp-block-heading" id="strong-what-do-technical-indicators-suggest-for-pi-coin-strong"><strong>What Do Technical Indicators Suggest for PI Coin</strong></h2>
<p>The technical indicators prefer the bear army, and most indicators deliver the sell signals. As per the analysis done on 26 indicators, 11 indicators reflect a sell signal, whereas nine indicators prefer a neutral outlook, and only six indicators suggest a buy signal. Overall, the trend is neutral, but buyers must hold the $50 mark and sustain above the 20-day EMA mark to trap the bear army.</p>
<p>Per the Fib retracement levels, the PI coin trades above the 23.6% zone and is trading below the mid bollinger band, signifies seller dominance.</p>
<h3 class="wp-block-heading" id="strong-summary-strong"><strong>Summary</strong></h3>
<p>The PI coin price hovers near its significant moving averages and has taken support on the 100-day EMA mark. However, the price action replicates consolidating price movements, which suggests further retracement. If bulls succeed in retaining the $50 mark, it may lead to a trend reversal.</p>
<h4 class="wp-block-heading"><strong>Technical Levels</strong></h4>
<p><strong>Support Levels:</strong> $30 and $28</p>
<p><strong>Resistance Levels:</strong> $45 and $50</p>
<h5 class="wp-block-heading"><strong>Disclaimer</strong></h5>
<p>The views and opinions stated by the author or any other person named in this article are for informational purposes only and do not constitute financial, investment, or other advice.&nbsp;</p>

The PI Coin Price Prediction: Will Bulls Retain the $50 Mark?

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Thecoinrepublic.com

Ďalšie články zverejnené 9. 4. 2024

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