Outside Source
PI is found in a correction after its ATH.
Key Support levels: $1.2
Key Resistance levels: $1.5, $1.8, $2
1. Correction Ongoing
After its all-time high at $3, PI entered a correction which took the price to $1.2 over the past weekend. Buyers returned there to push it back up to the key resistance at $1.5. While the resistance did not break at that time, another attempt could soon follow.
2. Key Resistance Holds Up Recovery
The ongoing correction may be coming to an end if buyers manage to push PI above $1.5 and turn that level into a key support. If successful, this cryptocurrency could see a nice relief rally that could take it towards $1.8 next.
3. Momentum Turning Bullish
On the 4h MACD, we can clearly see that momentum is about to flip bullish. This may soon encourage buyers to return and attempt a clean break above $1.5. If so, there is a good chance the current correction may end and see this cryptocurrency return on an uptrend towards $1.8 and beyond.
This article first appeared at CryptoPotato
