While the broader crypto market slides, Pi Coin (PI) is quietly outperforming most major assets. Over the past 24 hours, as Bitcoin, Ethereum, and BNB dropped between 3% and 12%, Pi Coin fell by only 1.5%, showing an unusual level of resilience. But with mixed signals on its chart, traders now face a critical question — is this the start of a recovery, or just the calm before another dip?
Two Conflicting Signals
Pi Coin’s price chart currently shows a tug-of-war between accumulation and fading momentum — two forces that often define short-term direction.
The Money Flow Index (MFI), which tracks capital inflows and outflows, has been rising even as Pi Coin’s price hit new lows between August 1 and October 9. This pattern suggests a bullish divergence, signaling that fresh buying pressure may be quietly entering the market. Retail investors appear to be accumulating, potentially laying the groundwork for a rebound.
However, the Relative Strength Index (RSI) from October 6–13 tells a different story. Despite minor price upticks, RSI formed a hidden bearish divergence, meaning that upward momentum is weakening. Traders often interpret this as a warning of possible short-term resistance ahead.
In essence, MFI hints at early accumulation, while RSI warns of fading buying power — leaving the market in a neutral zone where patience and caution are key.
The Falling Wedge Pattern
Currently, Pi Coin trades within a falling wedge, a technical formation that often precedes a bullish breakout. For confirmation of this scenario, PI’s daily candle must close above $0.29, potentially triggering a surge in buying activity and renewed upward momentum.
In the past, Pi Coin demonstrated similar behavior. On September 22, the token rallied 57% — from $0.18 to $0.29 — after bouncing off support. Based on that pattern, near-term targets could sit around $0.24–$0.25, with a potential move toward $0.29 if momentum strengthens.
However, a drop below $0.15 would invalidate this bullish outlook, signaling a deeper correction ahead.
Current Outlook
As of writing, Pi Coin trades near $0.21, maintaining strong support at $0.18 and $0.15. While it remains one of the few altcoins outperforming the market, the balance between accumulation (MFI) and momentum weakness (RSI) will determine its next move.
If accumulation prevails, bulls could regain control and push prices higher. But if momentum continues to fade, a corrective phase may be imminent.
Disclaimer
This analysis is for informational purposes only and should not be considered financial or investment advice. Market conditions remain unpredictable. Readers are encouraged to conduct their own research or consult a financial professional before making investment decisions.
