PIUSDT is currently trading at $0.44, just 9% above its ATL of $0.40. The altcoin has been stuck in a downtrend for the past two months, and the lack of support could lead to further declines. As investor sentiment continues to erode, Pi Coin could soon test its ATL, with the potential for further losses.The Chaikin Money Flow (CMF), which tracks the flow of money into and out of an asset, has dropped to a 3-month low. This indicates that
PIUSDT is experiencing a significant outflow of capital, with more money leaving the coin than entering.With the bearish sentiment and technical indicators pointing to a downtrend,
PIUSDT may struggle to find support in the near future. If the altcoin loses its support at $0.40, it is likely to drop to the ATL of $0.36. This would mark a significant loss for holders who have seen their investments lose value over time.However, if the investor sentiment shifts and
PIUSDT is picked up at lower prices, there may be a chance for recovery. A positive change in momentum could be signaled by Pi Coin breaching the $0.51 resistance level and flipping it into support. This would invalidate the bearish thesis and open the door for potential price gains.
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.