Oh, the drama in the world of cryptocurrency! The market has taken a major hit today, all thanks to some escalating tensions between Iran and Israel. As a result, top altcoins like PI crypto have seen a significant drop in their portfolios.
Over the past 24 hours, the PI price has plummeted by approximately 10%, with a whopping 254% increase in its trading volume to $241.31 million. This has caused its valuation to drop to $4.2 billion, with a market dominance of 0.1288%. Talk about a rollercoaster ride!
This has led to a Fear, Uncertainty, Doubt (FUD) situation in the crypto space. Investors are keeping a close eye on the price action of cryptocurrencies, as the sentiments suggest increasing uncertainty over the upcoming weekend.
PI Coin Price Tanks 23% in Just Hours
The Volume indicator has shown a sharp rise today after a brief period of consolidated action. This indicates a sudden spike in the buying and selling pressure for the altcoin in the market. In this case, the histogram is red, which means there’s been a lot more selling than buying.
The Relative Strength Index (RSI) dipped into the oversold range in the 4H time frame, recording a low of 15.8. However, it has since experienced a positive reversal and is currently valued at 26.82. This trend suggests increased volatility for PI in the market.
Additionally, the Cross EMA 50/200-day acts as a major resistance trend around the $0.62 and $0.68 respectively. By evaluating the present market sentiments, the PI token displays a strong bearish sentiment this week.
Will PI Coin Bounce Back?
If the market favors the bulls, this could result in PI retesting its resistance levels of $0.60 and $0.74 respectively. If the bullish sentiment intensifies, it could head toward its upper price target of $0.89 in the upcoming time.
However, if PI experiences increased liquidation, this may pull the value of the coin toward its crucial support trendline of $0.47 this month. Only time will tell if PI can recover from this crypto chaos! 😱🚀
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2025-06-13 23:55