PI has experienced an extreme -95% collapse from its peak, followed by months of steady sideways consolidation. This kind of price behavior is typical after capitulation events, where sellers are completely exhausted and the market enters a long accumulation phase.
Key Technical Observations
1. Major Capitulation (-94.68%)
The sharp vertical drop shows panic selling. After such massive declines, markets often enter a stabilization zone.
2. Long-Term Support Zone (≈ $0.22 – $0.30)
The chart shows PI sitting on a multi-month horizontal support, which has repeatedly held. This is currently the most important level.
3. Price Compressing Near Support
PI is trading in a very tight range just above support. This normally indicates that:
• Sellers are mostly gone
• Buyers are slowly accumulating
• A small upward correction becomes more likely than another major breakdown
4. Reclaim of SMA50 Would Be First Bullish Signal
The SMA50 is slightly above price. If PI closes above it, momentum may shift upward.
Bullish Scenario (Green Arrow)
If PI holds above the $0.22–$0.23 support and breaks out from the tight range:
Targets:
• Target 1: $0.30
• Target 2: $0.40 (strong resistance and major test area)
A breakout above $0.40 would signal a trend reversal.
Bearish Scenario
If the support at $0.22 breaks decisively:
• The chart has no meaningful support below until extremely low levels
• Price could revisit the sub-$0.10 zone
• Breakdown would indicate continuation of the long-term downtrend
Suggested Levels
Entry (Speculative): $0.23–$0.25
Stop-Loss: Below $0.20
Targets:
• $0.30
• $0.40
This is a high-risk, high-speculation setup, suitable only for experienced traders.
Key Technical Observations
1. Major Capitulation (-94.68%)
The sharp vertical drop shows panic selling. After such massive declines, markets often enter a stabilization zone.
2. Long-Term Support Zone (≈ $0.22 – $0.30)
The chart shows PI sitting on a multi-month horizontal support, which has repeatedly held. This is currently the most important level.
3. Price Compressing Near Support
PI is trading in a very tight range just above support. This normally indicates that:
• Sellers are mostly gone
• Buyers are slowly accumulating
• A small upward correction becomes more likely than another major breakdown
4. Reclaim of SMA50 Would Be First Bullish Signal
The SMA50 is slightly above price. If PI closes above it, momentum may shift upward.
Bullish Scenario (Green Arrow)
If PI holds above the $0.22–$0.23 support and breaks out from the tight range:
Targets:
• Target 1: $0.30
• Target 2: $0.40 (strong resistance and major test area)
A breakout above $0.40 would signal a trend reversal.
Bearish Scenario
If the support at $0.22 breaks decisively:
• The chart has no meaningful support below until extremely low levels
• Price could revisit the sub-$0.10 zone
• Breakdown would indicate continuation of the long-term downtrend
Suggested Levels
Entry (Speculative): $0.23–$0.25
Stop-Loss: Below $0.20
Targets:
• $0.30
• $0.40
This is a high-risk, high-speculation setup, suitable only for experienced traders.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.