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Pi Coin (PI) is trading near $0.203, up about 1% in the last 24 hours and almost flat during the week. This comes immediately after a major fraud shock, which usually results in panic selling. Instead, the price of the Pi coin remains constant.
This raises a real question. Is Pi Coin stable because the support is really strong, or is the market too late to react?
Down channel encounters mixed cash flow signals amid fraud shock
practical A large coordinated scam recently drained more than 4.4 million private accounts Through its impact on the payment request function on the Pi Network.
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The Pi Core team confirmed that this is not a glitch in the protocol but rather a case of social engineering, since transfers only happen with the consent of the user. With losses mounting and a single wallet being stolen at 700,000-800,000 PI per month, the team temporarily stopped payment requests to stop further abuse.
Typically, this type of security scare leads to a sharp decline. Instead, Pi Coin stayed close to $0.204, barely moving as the market digested the news – even as the price traded in a bearish channel.
PayCoin works Within a bearish channel since October 27th. Both lines are weak because there are limited points of contact between them, but the lower trendline is currently the focus. The PI price is located near this limit, which often acts as a floor in downtrends. If this ground collapses, the structure breaks. Until then, act as an anchor.
The Money Flow Index (MFI), which measures buying pressure through price and volume, explains why Paycoin does not fall on the news of the scam. Between December 19 and December 29, the price trended lower, but the average financial index continued the upward trend. This is an optimistic deviation.
It shows a decrease in buying and indicates that the selling support has helped Pi Coin to respect the lower trend line of the channel.
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But this support was still not stable. On December 29, the IMF broke the rising trend line. It is now located near area 46. If it falls below 37, the low buying level will decrease, weakening the low buying demand. A collapse here removes the cushion that protects Pi Coin from scam addresses.
Big bucks still come in handy now
Chaikin Money Flow (CMF), which tracks large capital flows using volume-weighted compression, also helped overall. It started rising and is still above zero. In addition, it was rising when the price trended lower between December 20 and December 31, indicating bullish accumulation (under the hood).
This is usually a sign that the bigger players are absorbing the selling pressure. The last time CMF broke above zero and stayed above that for several sessions in November, Pi Coin rallied around 31% before the momentum faded.
So the indicators are no longer compatible. MFI says dip buying is refreshing. CMF says the backlog still exists.
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While the CMF remains above zero, Pi coin has a reason to maintain the current range. If the CMF falls below zero, the down channel becomes more dangerous and paves the way for a delayed response to the scam.
That’s why the market hasn’t moved yet. The technical structure is still enough support to delay the panic, but the signals are divided. These delayed reactions are often.
Major Picoin price levels will determine if support holds
Everything now returns to the price levels that are in the descending channel.
If Pi Coin recovers $0.217return to the channel’s mid range. This is the first sign that the support is not only emotional. Holding this level could open the way to $0.236. A break above $0.283 will reject the channel and turn the structure from bearish to neutral. But this kind of demonstration seems unlikely, considering the current market conditions.
Downside risks seem more pronounced.
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If Pi Coin loses $0.195, the main support, which is the lower trend line of the channel, will break. This level is the backbone of support and the reason for the accumulation of whales.
His loss reveals $0.182. A break of $0.182 confirms the break of the channel and puts $0.160 in play.
This creates two clear paths:
If the IMF stabilizes and the CMF continues to rise, Pi Coin can be repeated Its behavior in November and it tries to recover to $ 0.217 and $ 0.236.
If the IMF falls below 37.8 and the CMF returns below zero, the whales will stop absorbing the supply, and the fraudulent shock may finally be in the price. This scenario opens a delayed correction towards $0.182 or lower.
Currently, the chart explains why the price did not collapse on the news. But the same chart also explains why a delayed reaction is still possible.
