Pi Coin Takes A Bearish Hit —But Early Relief Metrics Hint At A Comeback

Core Viewpoint - Pi Coin has experienced a 7% drop in the last 24 hours, but its monthly performance remains relatively strong with an 8.7% increase, outperforming Bitcoin and Ethereum [1] Market Performance - The recent decline in Pi Coin's price is part of a broader market pullback, with Bitcoin and Ethereum seeing losses of approximately 21% and 26% respectively over the same period [1] - The price drop was initiated by a bearish crossover on the 12-hour chart, where the 20-period exponential moving average (EMA) fell below the 100-period EMA, indicating short-term downward momentum [1][2] Internal Metrics - The Relative Strength Index (RSI) shows a hidden bullish divergence, indicating potential for upward movement despite the recent price drop [3] - The Chaikin Money Flow (CMF) has increased significantly, suggesting that large investors may be gaining control, which historically correlates with price increases [5] Price Levels and Rebound Potential - For a rebound to be confirmed, Pi Coin needs to close above $0.238, representing a 4% increase from the current price of approximately $0.229 [7] - A successful close above $0.238 could lead to resistance levels at $0.255 and $0.266, with a potential retest of $0.284 if the broader market improves [8] - On the downside, maintaining support around $0.225 and $0.223 is crucial; losing these levels would negate the bullish divergence and shift focus to a demand area near $0.209 [8]