Pi Coin Price at Crossroads, Can Bulls Defend the $0.53 Level?

Crypto

Pi Coin Price at Crossroads, Can Bulls Defend the $0.53 Level？

The post Pi Coin Price at Crossroads, Can Bulls Defend the $0.53 Level？ appeared first on Coinpedia Fintech News

Pi coin is back in the buzz, as the network completes 100 days of mainnet launch. The project has made considerable strides, with real-world transactions, developer tools, and a robust $100M ecosystem fund aimed at empowering innovation. Events like PiFest have further validated Pis real-life utility. While over 13 million users have successfully migrated, which is supported by 400k+ active nodes.

However, community sentiment remains mixed. Many early contributors have been facing challenges accessing their balances due to bottlenecks in KYC and migration. Successively, these setbacks are now reflecting in PI Coins price trend, currently struggling below key resistance levels. So, where will Pi coin go next, you ask？ Join me as I decode the short-term Pi Coin Price Analysis.

Pi Coin Price Analysis:

Looking at the 4-hour chart, PI Coin price is at $0.5383, down 0.52% over the past 24 hours. The market cap sits at $4.02 billion, with the intraday trading volume soaring 45.01% to $75.78 million. Technically speaking, the Bollinger Bands are tightening, indicating reduced volatility.

The PI price is hovering near the lower band, with the 20-SMA at $0.5390 acting as a dynamic resistance. It is worth noting that the key short-term resistance levels lie at $0.578, and if bulls push past this, $0.647 could be the next upside target. Contrarily, the nearest support remains at $0.5277, which, if broken, could lead to a freefall toward the $0.50 zone.

Meanwhile, the RSI is flat at 37.48, close to the oversold region. The RSI moving below its 14-day average of 40.01 signals ongoing bearish pressure. Despite this, the volume spike and stabilization near local support suggest possible accumulation.