Relief signals on the Pi Coin chart
On the hourly chart, PI showed a 'bullish cross' when the 20 EMA, or exponential moving average, rose above the 50 EMA. This pushed the price to around $0.37, helping to hold positions in the last session.
On August 20, a similar cross lifted PI from $0.35 to $0.37. However, the rebound was short-lived, and prices soon fell again. This pattern shows that short-term crosses can trigger spikes, but they did not change the overall trend for Pi Coin.
Therefore, today's movement, while helpful, may not be sufficient on its own. To gain a fuller understanding, one needs to look deeper.
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RSI indicates bullish divergence.
The 12-hour price chart of Pi Coin shows a deeper trend. On August 20, PI reached $0.3739, and on August 22, it reached $0.3712, indicating the formation of lower price highs.
At the same time, the RSI showed higher highs. This is called bullish divergence: sellers were lowering prices, but buyers were gaining strength.
For Pi Coin, this is unusual as the token has been declining for most of the year. Divergence on a longer time frame shows that buyers may have started to resist the pressure. This could give more significance to the crossover on the hourly chart noted earlier.
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PI Forecast: Key Levels
To confirm the bullish trend, PI must overcome the marks of $0.37 and $0.38 on the 12-hour chart. A more confident signal will appear upon reaching $0.40. A break of this level will show true strength beyond short-term fluctuations.
The bull and bear pattern strengthens confidence in the bullish scenario. Bearish momentum weakened after August 20. Sellers tried to increase losses, but pressure eased on August 21 and 22. At the same time, sentiment improved with the launch of the PI/USDC pair on OKX, giving buyers an incentive to act.
If the price falls below $0.33 again, the scenario will weaken. A break below this level will likely lead to new lows, as Pi Coin has already shown before.
