There is a brief bullish stroke in the market, with the broader market cap holding at $2.33 trillion. Notably, the Fear and Greed Index reading is hovering around 20, suggesting the extreme fear turned into mere fear. Major crypto tokens like Bitcoin and Ethereum are trading close to their recent highs, attempting to climb.
Among the altcoin pack, PI has posted a modest 2.61% spike in value over the last 24 hours. It opened the day trading at a bottom range of $0.1665, and with a bullish shift in the market, the price moved up toward a high of $0.1716. At the time of writing, PI traded at $0.1711, with its daily trading volume at $12.48 million.
Zooming in on the four-hour trading pattern of PI, it confirms the bullish trend, with the price mounting toward the $0.1722 resistance level. If the upside momentum gains more traction, it triggers the golden cross to take place. Eventually, the bulls would drive the price to mount above $0.1735.
On the flip side, assuming the bears reclaim their dominance and push the PI price to slip to the support at $0.1699. Upon the downside correction strengthens, this crucial range may break down further, initiating the formation of the death cross. Also, the asset’s price could fall below $0.1685.
Bullish Setup Emerges for PI as Indicators Turn Positive
PI’s Moving Average Convergence Divergence line is briefly above the signal line. It implies a bullish push, and being above zero confirms that the broader momentum is bullish. If the MACD remains above, it could support further upside.
Besides, the Chaikin Money Flow (CMF) indicator at -0.02 hints at very mild selling pressure in the PI market. The money outflow slightly exceeding inflow. This near-zero value reflects a balanced market, showing consolidation.
The Bull-Bear Power (BBP) of PI at 0.0035 displays almost neutral momentum with a slight bullish tilt. The buyers have a marginal edge, but the strength is very weak. A sustained move higher would indicate improving bullish acceleration.
Furthermore, the daily Relative Strength Index value of 57.26 exhibits moderate bullish sentiment. If RSI continues climbing toward 60–70, the bullish strength increases. Significantly, a move back to 50 slows down the momentum.
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