Pi Coin (PI) created a symmetrical triangular formation in short -term price movements. Technical indicators indicate that a upward break can occur. At this point, Fibonacci levels and RSI data help to set possible price targets.
PI Coin Price Analysis and Important Levels
Pi Coin’s 1 -hour graph shows that the price is stuck in a symmetrical triangular formation after a long wave of rise. According to Elliott Wave Theory, this structure can be the 4th wave of the current rise trend. If this theory is confirmed, a upward break may indicate the beginning of the 5th wave.
The price is currently testing a 0.5 Fibonacci withdrawal point of withdrawal at $ 1.46. The resistance is $ 1.79. If the price exceeds the upper limit of the triangle, a movement can be experienced up to $ 1.87 to $ 1,90, depending on the extension levels of the fibonacci.
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The RSI indicator is currently following the neutral level. This shows that there is no excessive purchase or over -selling pressure in the market. It is critical that the price remains above $ 1.46 to continue the rise trend. Otherwise, the level of 0.618 fibonacci in $ 1.13 may be tested and the rise scenario may be invalid.
Short -term PI Price Expectations
Pı for the first wave of the 15 -minute graphic rise movement has begun. The second wave fell to the level of 0.5 fibonacci in $ 1.57. If the 3rd wave occurs as expected, the levels of $ 1.64 (1.0 fibonacci extension) and $ 1.72 (1.618 Fibonacci extension) will be critical goals.
If the symmetrical triangular formation is broken upward, an increase up to $ 1.87 – $ 1.90 may be possible with the exceeding of $ 1.78. However, if the price is withdrawn from $ 1.64 or falls below $ 1.57, a withdrawal may be experienced up to $ 1.50.
If the price loses $ 1.50, strong support for $ 1.46 can be re -tested. If this level goes down, the rise scenario may deteriorate and the downward trend may begin.
Levels to be followed in Pi Coin:
- Instant resistance: $ 1,64 (1.0 fibonacci extension)
- Important resistance: $ 1,72 (1,618 fibonacci extension)
- Critical Resistance: $ 1,79 (0.382 Fibonacci Reddness level)
- Instant Support: $ 1,57 (0.5 fibonacci retreat level)
- IMPORTANT SUPPORT: $ 1.50 (structural support)
- Critical Support: $ 1,46 (0.5 Fibonacci retreat level, invalidity point)
If the price remains above $ 1.50 and the upper limit of the triangle is broken, it can be targeted by $ 1.87 or more. However, the decrease trend is deepened below $ 1.50.
Responsibility Rejection: The information contained in this article does not contain investment advice. Investors should be aware that crypto currencies carry high volatility and thus risk and carry out their operations in line with their own research.
