Lokesh Gupta
15-05-2024
#PI coin is currently experiencing a bearish technical setup, marked by a descending triangle.
It's also confined within a symmetrical triangle, consistently encountering resistance from dynamic trendlines.
On the daily chart, $PI coin is trading above the 200-day EMA but facing strong resistance from the 20-day, 50-day, and 100-day EMAs.
The RSI has dipped below the 50 level, awaiting further confirmation.
Both the MACD and signal line have dropped below zero, though they recently formed a golden cross, suggesting a potential reversal.
A Morning Star Pattern has emerged on the daily chart, indicating potential buying opportunities at lower levels.
If the bearish pattern manifest, $PI coin's price could decline by over 50% toward the pattern’s projected target near $18.
According to Coingabbar Prediction, Conversely, if the Bulls breach the pattern, PI coin's price could surge toward the target near $70.
KEY LEVELS :
RESISTANCE LEVEL : $45.00-$53.00
SUPPORT LEVEL : $35.00-$30.00
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Lokesh Gupta is a seasoned financial expert with 23 years of experience in Forex, Comex, NSE, MCX, NCDEX, and cryptocurrency markets. Investors have trusted his technical analysis skills so they may negotiate market swings and make wise investment selections. Lokesh merges his deep understanding of the market with his enthusiasm for teaching in his role as Content & Research Lead, producing informative pieces that give investors a leg up. In both conventional and cryptocurrency markets, he is a reliable adviser because of his strategic direction and ability to examine intricate market movements. Dedicated to study, market analysis, and investor education, Lokesh keeps abreast of the always-changing financial scene. His accurate and well-researched observations provide traders and investors with the tools they need to thrive in ever-changing market conditions.
Lokesh Gupta is a seasoned financial expert with 23 years of experience in Forex, Comex, NSE, MCX, NCDEX, and cryptocurrency markets. Investors have trusted his technical analysis skills so they may negotiate market swings and make wise investment selections. Lokesh merges his deep understanding of the market with his enthusiasm for teaching in his role as Content & Research Lead, producing informative pieces that give investors a leg up. In both conventional and cryptocurrency markets, he is a reliable adviser because of his strategic direction and ability to examine intricate market movements. Dedicated to study, market analysis, and investor education, Lokesh keeps abreast of the always-changing financial scene. His accurate and well-researched observations provide traders and investors with the tools they need to thrive in ever-changing market conditions.
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