PI continues to slide deeper into bearish territory, with technical indicators signaling mounting selling pressure. The Elder-Ray Index on the daily chart has remained negative since July 12, reflecting consistent dominance by bears and a clear lack of bullish momentum.
With sentiment firmly tilted to the downside, the $0.43 support level is now under threat. A breakdown below this threshold could pave the way for a retest of PI’s all-time low at $0.40. Traders should watch this zone closely, as it may serve as a critical pivot for price direction.
That said, any resurgence in buying volume could spark a short-term recovery and shift momentum. Until then, caution is warranted.
With sentiment firmly tilted to the downside, the $0.43 support level is now under threat. A breakdown below this threshold could pave the way for a retest of PI’s all-time low at $0.40. Traders should watch this zone closely, as it may serve as a critical pivot for price direction.
That said, any resurgence in buying volume could spark a short-term recovery and shift momentum. Until then, caution is warranted.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Full story here beincrypto.com/
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.