Pi Coin Price: Bears Eye New Lows

Pi Coin (PI) is facing a difficult period as bearish signals intensify, pointing to a potential further decline in price. After a brief attempt at a rally, the token has fallen back into the red, and key technical indicators suggest that sellers are gaining control. This article explores the on-chain and technical signals that point to a potential new low for the cryptocurrency.

🐻 Bearish Indicators Mount: Sellers Take Control

Several key indicators are now flashing red for Pi Coin. The Chaikin Money Flow (CMF) has dropped into negative territory, a strong signal that capital is actively leaving the asset and that selling pressure is dominating. Furthermore, the Bull Bear Power (BBP) indicator has also turned negative, a move that previously preceded a significant 30% price fall for the token. This combination of signals from two key momentum indicators suggests a powerful shift in market sentiment from buying to selling.

📉 Technical Weakness: A "Death" Crossover Nears

Adding to the bearish outlook is a critical technical pattern that is forming on the 4-hour chart. The shorter-term 20-day Exponential Moving Average (EMA) is on the verge of crossing below the longer-term 100-day EMA, a pattern known as a "Death" crossover. This is widely considered a bearish signal, as it indicates a strengthening of selling momentum and a potential long-term downturn. If this crossover completes, it would provide a strong technical confirmation of the bearish trend.

🔮 Price Outlook: Navigating Support and Finding New Lows

Pi Coin's price is currently trading just above a critical support level of $0.34. The ability of the price to hold this level will be crucial in the short term. However, if this support fails, the article predicts that the price could slide towards its late August low of $0.32 or even lower. The combination of strong bearish technical and on-chain signals suggests that a continued downward trend is the most likely outcome for Pi Coin in the coming weeks.

📌 Conclusion

Pi Coin is at a critical juncture, with both on-chain and technical indicators pointing to a potential new low. The combination of negative money flow, bearish momentum signals, and a potential "Death" crossover creates a challenging environment for the token. While the support at $0.34 could provide a temporary pause, a break below this level could confirm a deeper correction.

🔐 Disclaimer

This article is for informational purposes only and does not constitute financial advice. Cryptocurrency investments carry a high level of risk and volatility. Always conduct your own research (DYOR) and consult a professional financial advisor before making any investment decisions.