PIUSDT is currently trading at $0.48 after consolidating sideways for several days. This consolidation has worked in its favor, helping the altcoin escape its two-month downtrend. Investors are now watching closely for the next resistance to be broken.PIUSDT Bollinger Bands are converging, signaling potential volatility ahead. This technical pattern, seen previously in May when Pi Coin saw a 114% price surge, suggests that the altcoin could experience a similar breakout if market conditions remain favorable. With 
BTCUSDT consolidating and 
ETHUSDT leading altcoins, sentiment leans bullish, increasing the likelihood of Pi Coin's upward movement.Macro indicators also align with this bullish outlook, as the Chaikin Money Flow (CMF) shows rising capital inflows into $OKX:PIUSDT. This suggests that investors are growing more confident and positioning themselves for a potential altcoin rally. As money flows into the market, Pi Coin is poised to benefit from increased demand, setting the stage for a possible price breakout.
Despite being only 17% above its all-time low of $0.40, the technical indicators suggest this support will hold. If
PIUSDT can flip $0.45 into a reliable support level, it could initiate a rally toward $0.51 and beyond, especially if the altcoin season intensifies.However, if holders begin to exit their positions prematurely,
PIUSDT could slip back toward $0.40. Such a move would invalidate the bullish scenario and place the altcoin at risk of retesting its historical low.
Aaryamann Shrivastava | On-Chain Analyst
BeInCrypto - beincrypto.com/author/aaryamann-shrivastava/
BeInCrypto - beincrypto.com/author/aaryamann-shrivastava/
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Aaryamann Shrivastava | On-Chain Analyst
BeInCrypto - beincrypto.com/author/aaryamann-shrivastava/
BeInCrypto - beincrypto.com/author/aaryamann-shrivastava/
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.