The Pi coin price experienced a freefall of more than 80% in the past 30 days from its high of $2.98 to $0.4012. However, as the market sentiments turned bullish, the price of this altcoin soared by 50.16% in 48 hours. This has resulted in it regaining the spotlight of the cryptocurrency space.
As the bullish sentiment sustains, the crypto community now speculates this crypto project to retest its milestone price of $1 within a short period, as the technical sentiments hint at a strong bullish reversal around the corner.
Considering the present market sentiments, top crypto marketers and investors are closely paying attention to the price movements of this altcoin. Are you one of many to find out the same? In this write-up, we will explore the technical sentiments and possible short-term Pi coin price prediction.
Pi Crypto Price On The Verge Of A Major Bullish Reversal?
After trading under a bearish sentiment for a brief period, the price of Pi coin has successfully breached its negative trend pattern in the daily time frame. With this, the altcoin is currently exchanging hands at $0.6028 with an intraday trading volume of $157.935 million.
The Simple Moving Average (SMA) has achieved a positive crossover in the daily time frame. This highlights an increase in the buying sentiment for the altcoin in the cryptocurrency market.
Furthermore, the Relative Strength Index (RSI) displays a bullish convergence below its neutral point in the PI coin price chart. This suggests that this altcoin may record a strong bullish reversal in the upcoming time.
Will PI Coin Be Worth Anything?
If the market continues favoring the bulls, in that case, the Pi price could bounce toward its resistance level of $0.6450. Suppose, the bullish sentiment intensifies at that point, this could push the price of this altcoin toward its upper target price of $1 during the coming days.
On the negative end, if this digital asset experiences increased liquidations, this could pull the price of this toward its crucial support level of $0.50 this month.
Also Read: Pi Coin price pumps 45% in just 5 hours despite market crash
