According to CoinGecko, PI has bled more than 7% in the past week and in the past 24 hours, the altcoin has mostly remained stagnant. At press time, PI trades at $0.2052, down more than 90% from its all-time high seen over ten months ago.
The PI daily chart shows that the price action is moving within a long-term descending structure that has been in place for several months.
Lower highs continue to cap upside attempts, while price remains below a declining trendline that has repeatedly acted as resistance.
Source: TradingView
Recent candles show Pi testing support near the $0.19 to $0.20 zone, which is a short-term demand zone. So far, sellers have failed to push price decisively below this range, which is a good sign for buyers.
Interestingly, between November 4 and December 11, Pi formed a hidden bullish divergence on the daily chart. During this period, price created a higher low, while the Relative Strength Index printed a lower low.
This pattern commonly appears near the later stages of corrections rather than at the start.
While divergence alone does not confirm a trend reversal, it is another good sign for PI holders.
If Pi manages to hold above the $0.19 support area, a short term bounce toward the $0.26 to $0.30 zone becomes possible.
A stronger recovery would require a clean daily close above $0.30, which could open the door toward the $0.45 to $0.50 range in the months ahead.
On the other hand, a daily close below $0.19 would weaken the bullish divergence signal. In that case, Pi could slide toward the $0.17 area.
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But time is almost up.
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With momentum building fast, this could be one of the strongest early-stage plays of the entire cycle.
nextThe post Pi Coin Price Prediction: Pi Falls 28%, But One Bullish Pattern Is Flashing – Could a Major Rebound Be Next? appeared first on Coinspeaker.


