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The price of Picoin has had a hard time recovering after the latest breakout attempt fell through. The token is trading near $0.16 after failing to sustain gains above $0.19, the level it reached during an attempt to break the bull flag pattern on February 17. This move predicted a rally of nearly 60%, but the rally quickly settled.
Since then, Pai’s price has fallen, raising concerns that the general downward trend will continue. However, under this weakness, a technical signal seems to suggest that a recovery attempt may be developed. The bigger question is can retail buyers alone sustain this rebound?
The hidden positive deviation keeps the hope of a refund alive
Pai Network’s recent pullback created an interesting structure on the chart.
Between February 13 and February 22, the price seems to have formed a higher low, while the Relative Strength Index (RSI) has formed a lower low.
The Relative Strength Index is a tool that measures buying and selling power. This pattern is called a hidden bullish divergence, and it often indicates a temporary rebound in a broader downtrend.
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This explains why Pi was able to stabilize near $0.16 despite the failure to break out. However, this signal remains very weak. The PI symbol must stabilize above the $0.16 support level (specifically $0.162) for the deviation signal to be valid. If we fall below this level, the hidden bullish structure will weaken temporarily, exposing the price to more significant losses.
But the moment alone is not enough. The real test is how committed the participants are to support this rebound.
Collapse of social interest and cash flow
While the RSI shows potential for an early rebound, other indicators point to a decline in confidence.
Social Discussion Volume, which tracks how often a discussion takes place, has decreased coin Pi On social media platforms, sharply. It fell from a monthly high of 18 on February 16th to just 3 on February 22nd. This represents an 83% drop in interest.
This decrease is significant because the previous hacking attempt was driven by increased social interest. With fewer participants in the Pi debate, the demand needed to support demonstrations is declining.
The last time the volume of social interaction fell to similar levels was on February 9 (the lowest monthly at the time), when the index fell to 6. In the following two days, the price of the pi network collapsed to an all-time low close to $0.13.
With social attention now up to a value of 3, this decrease in attention could also weaken the price support and increase downside risks.
Capital flow data suggest the same story. The Shaken Money Flow (CMF) index, which tracks buying and selling by large investors, has fallen continuously since February 18, along with the price. It is also still below zero, which shows that money continues to leave the pi network rather than enter it.
Explain this The lack of capital support is the reason for the failure of the violation of 60%. Why is the recovery process still weak? Without stronger flows, bounces often set in even when the RSI indicates a bounce.
Retail purchases are increasing, but may not be enough
It seems, however, that there is a group that shows signs of accumulation.
The balanced volume indicator (OBV), which follows the cumulative pressure of buying and selling and is often used as an indicator of selling activity, has been increasing since February 16, even when the price continues to fall. This indicates that retail investors are buying into the dip.
This activity from retail investors probably indicates that… Pi price of currency Holding critical support for now. But retail investment is usually not enough to drive sustainable recoveries. Without support from large investors and stronger capital flows, price rebounds often fail.
This leaves the eBay network in a vulnerable position. If you have PI Above $0.16, the recovery attempt could continue towards $0.18 and maybe $0.20, which is one of the most important levels.
However, if the support is broken below $0.16, failure to break the resistance may lead to a deeper decline towards $0.14 and eventually towards the all-time low near $0.13. Currently, eBay appears to be stuck between declining institutional interest and continued buying by individuals.
