The price of Pi Coin has been fluctuating within narrow ranges, despite the overall strength in the crypto market. Currently, PI is trading at $0.360, unchanged over the last 24 hours. Over the week, it has seen a 1.5% increase, while the monthly gain stands at 3.4%—a rare positive trend for the token in recent months.
However, despite these steady increases, the previous week has highlighted a clear fact: the price of Pi Coin is in a stalemate between buyers and sellers. The market is poised for a potential breakout, with a mere 2% rise or a 5% decline possibly determining the victor.
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Buyer-Seller Stalemate Reflected in Money Flows
The divide between significant wallets and retail investors is now evident in the money flow statistics. The Chaikin Money Flow (CMF), which indicates the movement of money, has sharply declined from 0.11 to 0.03 as of the latest data.
This drop indicates that large wallets are withdrawing funds, reflecting a decrease in confidence.
Conversely, the Money Flow Index (MFI), which measures trading volume and purchasing pressure, has shown an increase. It rose from 43.11 to 52.71 during the same timeframe, signaling that retail traders may still be buying the dip in Pi Coin’s price.
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The divergence between the CMF and MFI highlights the ongoing price stalemate. While large wallets retreat, retail activity helps maintain the price. The Bull-Bear Power indicator (BBP), which measures buying and selling momentum, reaffirms this struggle as it stays near neutral.
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At the moment, retail buying is dominating over large wallet withdrawals since the BBP indicator still shows green, but this balance could change rapidly. If outflows persist, bulls may lose their advantage.
Pi Coin Price Chart Shows What Breaks the Stalemate
The price action also reflects the standstill. Pi Coin has been navigating within a symmetrical triangle since August 25, approaching a pivotal breakout point. The trading range at $0.360, despite small increments, indicates how entrenched the market is.
A daily close above $0.367 would signify a clear breakout above the upper trendline, representing a 2% increase from the current price. This would set Pi on a trajectory toward $0.377, a short-term bullish target, should retail demand remain robust.
On the flip side, risks linger. A fall below $0.343 (a 5% decline) would undermine the current structure, with further drops below $0.334 potentially leading Pi to new all-time lows.
The ongoing battle between buyers and sellers has left the price of Pi Coin in a bind, but the symmetrical triangle suggests this state will not endure indefinitely.
A significant movement in either direction appears imminent. With retail support firm yet major players withdrawing, the direction of the breakout or breakdown will hinge on whether smaller investors can continue to outpace larger outflows.
