Pi Coin shows strong signs of recovery after two months of decline.
This altcoin is benefiting from improved market sentiment. In particular, signals are strengthening that the altcoin season is approaching. This momentum could lead Pi Coin to a major price surge.
Pi Coin Receives Market Support
At the time of writing, Pi Coin's Bollinger Bands are converging. This technical pattern typically signals volatility. The last similar event occurred in May. At that time, Pi Coin recorded a massive 114% price increase immediately after the band expanded. The repetition of this movement depends on the direction of the broader cryptocurrency market.
Currently, with Bitcoin establishing a bottom and Ethereum leading altcoins, conditions are favorable for another bullish breakout for Pi Coin. The contracting Bollinger Bands suggest an immediate movement, and as sentiment tilts bullish, the next wave of volatility could elevate Pi Coin again.
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Macro indicators also align with the bullish forecast. The Chaikin Money Flow (CMF) shows an upward trend, indicating capital inflow into Pi Coin. This inflow suggests investors are gaining confidence and may be positioning themselves ahead of an altcoin rally.
As funds enter the ecosystem, Pi Coin benefits from increased market participation and demand. These factors often precede price surges, especially when combined with technical signals of volatility.
Will PI Price Rebound?
Pi Coin is currently trading at $0.47, having consolidated and established a bottom over several days. This correction has helped altcoins break out of a two-month decline. Investors are now watching for the next resistance to be broken.
Only 15% away from its all-time low of $0.40, technical indicators suggest this support will hold. If Pi Coin can convert $0.45 into a reliable support level, it could initiate a rally above $0.51 if the altcoin season strengthens.
However, if holders begin to exit positions early, Pi Coin could drop back to $0.40. Such a move could invalidate the bullish scenario and expose the altcoin to the risk of retesting historical lows.
