While the Cryptocurrency Market Records Signs of a Strong Bullish Bounce Back, the Pi Coin Price Continues to Stumble

While the cryptocurrency market records signs of a strong bullish bounce back, the Pi coin price continues to stumble.

The cryptocurrency market has shown signs of a strong bullish bounce back, but the Pi coin price continues to stumble.

The investors of this coin have entered into a FOMO-like situation as this project is experiencing uncertainty. While the investors are now achieving the Billionaire status, new investors are probably losing their life savings in it.

Evaluating the present market stats, the investors are stuck with their Pi holdings as this altcoin has failed to regain momentum this month. Will the Pi coin price continue crashing toward a new all-time low (ATL)?

Moreover, questions like “Is Pi coin dead?” are storming the internet, as its holders are now turning impatient. Let’s find out the short-term possibilities of this altcoin through this article.

Pi Crypto Displays Consolidated Price Action This Week!

Despite the ongoing market volatility, the Pi coin has maintained a neutral price action over the past few days. This highlights a reduced interest among investors in it.

Notably, the altcoin has recorded a variation of plus or minus 3% over the past week. Moreover, with a listed price of $0.64, it has a market cap of $4.49 billion.

The Simple Moving Average (SMA) has experienced a positive crossover in the daily time frame. This indicates a significant rise in the buying pressure for the altcoin in the cryptocurrency space.

Furthermore, the technical indicator RSI is on the verge of witnessing a bullish convergence. Considering the present market sentiment, the price of Pi coin could continue gaining momentum during the upcoming weekend.

Will Pi Coin Ever Rise Again?

If the bulls regain their lost momentum, this could result in the Pi Network price preparing to retest its resistance level of $0.825.

Furthermore, if the bulls outrun the bears, the price of PI crypto could head toward its upper resistance zone of $1.

On the other hand, if the bearish sentiment intensifies, in that case, the price of this altcoin could plunge toward its crucial support level of $0.50 during the coming days.