#creattoearn
$PI Coin price recorded an all-time low of $0.335 earlier this week. Since then, it has gained nearly 10% to trade at $0.3665 today, August 8. A bullish pattern now hints that the recovery is still in the early stages, and a 40% rally may be imminent.
Traders now seem to be getting ready for the next leg up. That follows the creation of a double-bottom, also known as a W pattern. The price of #Pi Coin created this pattern when it held on to the support of $0.336. When this bottom was established, bulls started to step in. This ended up confirming the firm support, with the focus turning to the resistance at $0.3773.
If the price can move above this resistance, the formation of this double bottom will be complete. At this point, a 40% surge might be in the cards for the Pi Coin price, pushing it to $0.53. Two things make it more likely that Pi Coin will get to this target: the RSI and the 50-day SMA.
