๐๐ก๐๐ฅ๐๐ฌ ๐๐ฎ๐ฒ ๐ญ๐ก๐ ๐๐ข๐ฉ โ ๐๐ฎ๐ญ ๐๐๐ ๐๐ข ๐๐๐ญ๐ฐ๐จ๐ซ๐ค ๐๐จ๐ฅ๐ $๐.๐๐ ๐๐จ๐ง๐ ๐๐ง๐จ๐ฎ๐ ๐ก ๐ญ๐จ ๐๐จ๐ฎ๐ง๐๐?
๐น Price slips again to $0.45
๐น 2M+ PI tokens bought by whales in 24h
๐น RSI near oversold, but momentum still weak
๐น All eyes on the $0.40 support
๐ Big Whales Are Accumulating But Why Now?
Onchain tracker PiScan shows:
โ CEX balances jumped to 373.6M PI, up 2.41M in 24h
โ Two whale wallets withdrew 2.06M PI from OKX
โ Wallet โGASWBDโฆJ2AODMโ now holds 7.92M PI after 5 days of accumulation
โก๏ธ Interpretation: Despite falling prices, top wallets are buying directly off exchanges, which usually signals long-term accumulation not panic.
๐ Price Action Weakens Next Stop $0.40?
Pi is down nearly 1% today, continuing last weekโs 12% drop. The price is now approaching the $0.40 level a key psychological and technical support last seen on June 13.
Resistance: $0.50 (needs a daily close above for trend shift)
Upside potential: $0.54 (if bounce occurs)
Downside risk: $0.40 (likely retest zone)
๐ Technical Indicators What Do They Say?
RSI: Currently near 33 close to oversold. If it dips below 30, selling pressure may increase.
MACD: Still bearish but showing fading red bars โ early signal of a possible bullish crossover.
โณ Not a confirmed reversal yet, but itโs worth watching.
โ What Traders Should Watch Now
๐ธ If PI holds $0.40 and RSI reverses upward, it could attract buyers for a rebound to $0.50
๐ธ A daily close above $0.50 may spark a short-term trend reversal to $0.54
๐ธ If price breaks below $0.40, expect further selling toward lower untested support zones
๐ง Final Thoughts
Whales buying during a downtrend often signal confidence and positioning โ not fear. But without a strong bounce from $0.40โ$0.45, the short-term remains fragile.