PI price is still in a negative technical situation with short-term averages below long-term averages displayed by its EMA lines. This alignment indicates that until there is a significant change in momentum, the downturn will continue.
The PI may retest important support levels if negative pressure increases, and a breakdown would be the first time the asset drops below a significant historical threshold, increasing the likelihood of a decline. PI might, however, test resistance at the next important EMA zone if buying pressure increases.
A broad rebound might be possible if there is a successful breakout above that level supported by significant momentum.
