Pi Coin has continued to decline for the third week in a row, with a sharp drop from its latest local peak. The altcoin has faced challenges due to weak investor support and market uncertainty.
Sellers have affected the market the most in the recent sessions, but chain signals now indicate that at least one important factor may improve.
Pi Coin holders earn money
Chaikin Money Flow has increased slightly in recent days. This change shows that capital is slowly returning to Pi Coin. Investors seem to be changing their attitude and may consider current price levels as good for accumulation.
Rising CMF values often indicate that investors are becoming more convinced. New inflows are important for the price to recover, as continued buying counters selling pressure. If the trend continues, Pi Coin may gain the momentum needed to stabilize and attempt to bounce back in the short term.
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Despite improving inflows, macroeconomic indicators are mixed. The average directional index shows that the recent decline has almost become stronger. If the value goes above the threshold of 25.0, it confirms that sellers have control.
But if the level is not surpassed, it indicates a weaker trend. This could reduce selling pressure. It would give Pi Coin the opportunity to recover, especially if buying interest increases and the market is supportive.
Pi Coin is trading near $0.203 USD at the time of writing. The price is above support at $0.198 USD and below resistance at $0.208 USD. The token is still down about 28% from the local peak at $0.284 USD. The price seems to be consolidating rather than making a decisive move.
If the decline becomes stronger, Pi Coin may remain in the range between $0.198 and $0.208 USD. This would limit the potential to rise and delay recovery. Prolonged consolidation may also test investors' patience in the continued uncertain market.
A positive scenario requires capital to continue flowing in. Continued accumulation may help Pi Coin reclaim $0.208 USD as support. A successful breakout could drive the price towards $0.217 USD and possibly further to $0.224 USD. Such a move would invalidate the negative scenario.
