Pi Coin briefly cleared the neckline at $0.204, signaling a breakout scenario discussed in prior analysis. However, the rally ran into strong selling near $0.239, driving price back toward the breakout level. As of the report, the coin was trading around $0.209, and traders were watching whether the uptrend could hold after the pullback.
Technical oscillators showed a cooling in momentum: RSI remained in overbought territory but formed a lower high, suggesting diminishing upside momentum. Similarly, CMF and MFI posted lower highs, indicating waning capital inflows despite the upside price move.
A bullish signal remains on the 8-hour chart, where the 50-period EMA hovered near the 200-period EMA, hinting at a potential bullish cross that could improve the broader setup. If a golden cross materializes, it may attract fresh buying and push the next target toward $0.272. Key levels to watch include a close above $0.224 on the 8-hour candle to reaffirm the breakout, and a clear move above $0.239 to unlock the cup-and-handle pattern’s upside. A break below $0.204, especially around $0.185, would undermine the breakout thesis and risk a reversal to the prior downtrend.
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