After a relief in the past two days, PI Network (PI) has approached a crucial crucial stage that will decide for the coming weeks. The large cap Altcoin, with a completely diluted appreciation of around $ 16.3 billion and an average trading volume of around $ 405 million, has returned around 8 percent in the last two days on Wednesday 12 March to trade around $ 1.48 during the early European session.
As a result, Pi Coin was the trending crypto activum on Coentecko in the last 24 hours, which indicates the increasing popularity among speculative traders.
Pi coin price forecast today
In the time frame of 1 hour, the PI prize has been consolidated in a symmetrical triangular pattern for the past four days. After the reliefs that rebounded in the past two days, the PI price now tests the upper limit of the symmetrical triangular pattern.
As Coinpedia noted earlier, the PI price has already confirmed a reversing pattern, which was characterized by head and shoulder formation in combination with a Bearish divergence of the Daily Relative Strength Index (RSI). Consequently, the chance of a reversal to a lower layer remains high in the coming days.
In addition, zooming in on the 5 -minute period shows a clearer picture of the bearish sentiment. It is remarkable that the PI price has formed potential coupes with double top with a bearish RSI in the five-minute candlestick. Consequently, a consistent decrease below $ 1.46 will eventually lead to a further decrease in the lower edge of the symmetrical triangular pattern.
However, a consistent close to the upper edge of the symmetrical triangular pattern will lead to bullish sentiment in the coming days.
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FAQs
Pi -Munt consolidates in a symmetrical triangle. Bullish is close to the resistance, while a bearish RSI signals a potentially downward risk.
Pi Network won 8% and at the top of the Coingecko trending list at the top due to rising speculative interest and important technical price movements.