PI coin is currently experiencing a bearish technical setup, marked by a descending triangle.
It's also confined within a symmetrical triangle, consistently encountering resistance from dynamic trendlines.On the daily chart, $PI coin is trading above the 200-day EMA but facing strong resistance from the 20-day, 50-day, and 100-day EMAs.The RSI has dipped below the 50 level, awaiting further confirmation.Both the MACD and signal line have dropped below zero, though they recently formed a golden cross, suggesting a potential reversal.A Morning Star Pattern has emerged on the daily chart, indicating potential buying opportunities at lower levels.If the bearish pattern manifest, PI coin's price could decline by over 50% toward the pattern’s projected target near $18.According to Coingabbar Prediction, Conversely, if the Bulls breach the pattern, PI coin's price could surge toward the target near $70.
KEY LEVELS :
RESISTANCE LEVEL : $45.00-$53.00
SUPPORT LEVEL : $35.00-$30.00
Disclaimer: Coingabbar's guidance and chart analysis on cryptocurrencies, NFTs, or any other decentralized investments is for informational purposes only. None of it is financial advice. Users are strongly advised to conduct their research, exercise judgment, and be aware of the inherent risks associated with any financial instruments. Coingabbar is not liable for any financial losses. Cryptocurrency and NFT markets could be highly volatile; users should consult financial professionals and assess their risk tolerance before investing.
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