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Pi was one of the most resistant coins this month. While the broader market is up 1.1% today, Pi is still up 0.8% and is up 11.5% over the past month. Considering the history of the PI price, the increase of 11.5% is nothing more than a new demonstration.
It recently failed to bottom out, which could have led to higher levels, but the trend has not turned bearish. Several early signs show that buyers are still in control, and the rally may not be over yet.
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The initial pattern still indicates a rebound in price
The first bullish signal comes for Pi Coin From the 4-hour chart, which helps spotting early changes in the trend. At this time, the 20-period EMA is close to the 50-period EMA. The Exponential Moving Average (EMA) tracks price over time with the greatest emphasis on the most recent candles. A bullish crossover occurs when the short-term EMA moves above the long-term EMA, which often indicates a change in momentum.
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A similar crossover attempt occurred on November 11, but sellers intervened before the lines crossed, forcing the move to fail. If the bulls continue to hold the price this time, the crossover could be complete and give Pi its next boost.
On the daily chart, the Bulls Power indicator supports the idea. The indicator traces the distance between buying pressure and selling pressure. Despite the failure of the breakout at $0.229, the bull power indicator has become part of a strongly bullish zone, showing that buyers are still in control.
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If this strength continues, the EMA crossover will likely not fail like it did on November 11th.
Pi coin price movement and cash flow hold the key
communication The coin price Pi I struggle with $0.229, which has rejected all attempts to break it so far recently. If a close day forms above this level, the next target becomes $0.236 (another strong resistance), followed by a possible move towards $0.266, the upper resistance zone.
The failed breakout earlier this week corresponds to a drop in Shaken Money Flow (CMF). CMF measures whether large portfolios add or remove capital. Pi saw flows between November 15th and 16th, but the money cleared quickly after that, moving back towards the trendline.
While the CMF remains above the uptrend line, buyers still have a way to go to regain control. A break of the zero line confirms the return of the big funds, which strengthens the bullish case and supports the EMA crossover of the 4-hour chart.
If the CMF falls below the trend line, the downside opens. In this case, Pi coin can revisit $0.201, and under deeper market pressure, even lower levels.
Currently, Pi only needs a boost of 0.48% to close above $0.229. If the crossover is complete and the CMF returns to the upside, Pi may finally be able to clear this obstacle and extend its monthly rally.
