Pi Coin Aims for Recovery as Retail Investor Inflows Surge to 2-Week High

Pi Coin has recently experienced significant price fluctuations, undergoing a sharp decline that brings it close to important support levels.

Despite the decline, this altcoin still maintains above its potential All-Time-Low (ATL). The cash flow from investors is currently providing the necessary momentum for Pi Coin's recovery.

Pi Network is Attracting Attention

The current market sentiment towards Pi Coin shows some positive signs. The Moving Average Convergence Divergence (MACD) indicator suggests that the price decline momentum is not yet very strong.

A recent price crossover, accompanied by green histogram bars, indicates that Pi Coin still has recovery potential. This is an important development, as it shows the altcoin may regain upward momentum and avoid dropping to ATL.

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The macro momentum for Pi Coin is also showing signs of improvement, as indicated by the Chaikin Money Flow (CMF). The CMF has increased significantly, signaling an increase in cash flow into this altcoin.

Although the indicator remains below the zero line, the upward trend suggests that Pi Coin is regaining momentum. This could be a crucial factor in helping the altcoin maintain prices above support levels and prevent further decline.

Moreover, the increasing participation of investors in Pi Coin is a positive indicator of its recovery potential. As more investors show interest in the token, it can create a stable foundation for future price growth.

This capital flow can also support the altcoin in overcoming resistance levels, leading to potential price recovery.

Pi Coin Price Finds Support

Pi Coin has dropped 9.7% over the past four days, with the altcoin trading at $0.442 at the time of writing. It recently approached the local support level of $0.440, which is still holding firm.

A crucial factor for Pi Coin's recovery will be its ability to bounce back from the $0.440 support and secure $0.450 as a new support level. This could set the stage for a price recovery, pushing Pi Coin to $0.493 and helping it recoup the losses suffered in recent days.

However, if investor sentiment shifts from accumulation to selling, Pi Coin may face the risk of further price decline. If it breaks below $0.440, the altcoin could test the All-Time-Low of $0.400.

Currently, Pi Coin is just 9.6% away from this important level, and if selling pressure increases, it could reach ATL again.