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

The Pl 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

The Pl 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 Pl coin may face bearishness and will retest the demand zone of $25 soon.

PI Coin Price Volume Profile on Daily Timeframe.

In the daily timeframe, the coin 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 trading volume was $2.30k, signifying average investor interest.

What Do Technical Indicators Suggest for PI Coin.

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.

Per the Fib retracement levels, the Pl coin trades above the 23.6% zone and is trading below the mid bollinger band, signifies seller dominance.#PixelComeback #Mr_Coin #pinetworkupdates