According to Gate News and BeInCrypto, after a failed Rebound in early May, PI has been on a steady downward trend, moving within a descending parallel channel. As buying momentum weakens, the Token appears to be preparing for a second test of its historical low this month.
The PI/USDT one-day chart shows that since May 22, this altcoin has been in a descending parallel channel, plummeting by 40%.
(Source: Trading View)
The descending parallel channel is a bearish signal that forms when the asset price fluctuates between two downward-sloping parallel trend lines. It indicates that over time, the highs and lows are continually declining, signaling a sustained decrease in buying pressure.
In addition, technical indicators also confirm that the market sentiment surrounding the Token is weakening. For example, the Moving Average Convergence Divergence (MACD) indicator of PI continues to issue bearish signals, with its MACD line (blue) remaining below its signal line (orange).
(Source: Trading View)
The MACD indicator measures the relationship between two moving averages of asset prices to identify momentum shifts and potential trend reversals. When the MACD line is below the signal line, it indicates a bearish trend.
The PI coin continues to show a bearish trend on the MACD indicator, indicating that selling pressure continuously exceeds buying interest. This momentum imbalance suggests that unless new demand enters the market to reverse the trend, prices may decline further.
In addition, the super trend indicator for PI Token continues to form dynamic resistance above the price of this Token, further exacerbating bearish expectations.
(Source: Trading View)
This indicator draws a line above or below the price chart based on asset volatility, helping traders identify market direction.
When the asset price falls below the super trend line, it indicates a bearish trend, suggesting that the market is in a downward trend with selling pressure dominating.
As the selling pressure continues to rise, the PI coin faces the risk of falling below the lower boundary of the descending parallel channel. If this happens, the downward trend will further intensify, and the price of the PI coin may drop to the historical low of $0.40.
However, as Pi2Day is scheduled for June 28, token holders are expected to announce significant announcements and ecosystem updates, which may spark new interest and demand.
It may provide the necessary buying pressure to break through the descending channel of the PI coin and push its price towards the resistance level of $0.79.
The content is for reference only, not a solicitation or offer. No investment, tax, or legal advice provided. See Disclaimer for more risks disclosure.
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Xinxin₃₉₄₉
· 13h ago
Just go for it💪
Reply0
Xinxin₃₉₄₉
· 13h ago
Who is this reckless person, claiming it's an alts and that it has gone live on the Mainnet? You can say it fell, but you can't say it's an altcoin.
Reply1
RulingTheWorld
· 13h ago
Do you think it can fall below 0.40, idiot? It's a bunch of nonsense.
PI coin price prediction: The MACD and Super Trend technical indicators indicate that the price will maintain a bearish momentum.
According to Gate News and BeInCrypto, after a failed Rebound in early May, PI has been on a steady downward trend, moving within a descending parallel channel. As buying momentum weakens, the Token appears to be preparing for a second test of its historical low this month.
The PI/USDT one-day chart shows that since May 22, this altcoin has been in a descending parallel channel, plummeting by 40%.
(Source: Trading View)
The descending parallel channel is a bearish signal that forms when the asset price fluctuates between two downward-sloping parallel trend lines. It indicates that over time, the highs and lows are continually declining, signaling a sustained decrease in buying pressure.
In addition, technical indicators also confirm that the market sentiment surrounding the Token is weakening. For example, the Moving Average Convergence Divergence (MACD) indicator of PI continues to issue bearish signals, with its MACD line (blue) remaining below its signal line (orange).
(Source: Trading View)
The MACD indicator measures the relationship between two moving averages of asset prices to identify momentum shifts and potential trend reversals. When the MACD line is below the signal line, it indicates a bearish trend.
The PI coin continues to show a bearish trend on the MACD indicator, indicating that selling pressure continuously exceeds buying interest. This momentum imbalance suggests that unless new demand enters the market to reverse the trend, prices may decline further.
In addition, the super trend indicator for PI Token continues to form dynamic resistance above the price of this Token, further exacerbating bearish expectations.
(Source: Trading View)
This indicator draws a line above or below the price chart based on asset volatility, helping traders identify market direction.
When the asset price falls below the super trend line, it indicates a bearish trend, suggesting that the market is in a downward trend with selling pressure dominating.
As the selling pressure continues to rise, the PI coin faces the risk of falling below the lower boundary of the descending parallel channel. If this happens, the downward trend will further intensify, and the price of the PI coin may drop to the historical low of $0.40.
However, as Pi2Day is scheduled for June 28, token holders are expected to announce significant announcements and ecosystem updates, which may spark new interest and demand.
It may provide the necessary buying pressure to break through the descending channel of the PI coin and push its price towards the resistance level of $0.79.
You can say it fell, but you can't say it's an altcoin.