Is Pi Coin Price Nearing a Bottom?

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Key Notes The 12-hour chart shows a bullish divergence between Pi coin price and RSI, signaling that buyers are gaining control again. For the bullish scenario to hold, PI needs to surpass $0.37 and $0.38, with stronger confirmation at $0.40. A drop below $0.33 would invalidate the setup and could lead to new lows. Pi Network’s native cryptocurrency Pi PI $0.37 24h volatility: 3.5% Market cap: $2.89 B Vol. 24h: $94.38 M price has slipped another 8% over the past week and is finding a floor at $0.35. Technical chart pattern suggests that the bottom formation could be finally here, with the Pi token eyeing some upside from here onwards. Pi Coin Price Shows Bullish Crossover On the 1-hour chart, Pi token experienced a bullish crossover as the 20-period EMA rose above the 50-period EMA. This pushed the Pi price to $0.37 while helping it maintain support during the last session. Pi coin price has formed a bullish crossover. | Source: TradingView A bullish crossover is often seen as an early sign of buying strength. This pattern has appeared before. On August 20, a similar crossover lifted PI from $0.35 to $0.37, though the rally was short-lived. This shows that short-term EMA crossovers often spark quick price moves, especially when the market has been correcting for a while. However, the Pi coin price is also suggesting a bullish divergence on the longer timeframe, after a major bearish move. The 12-hour Pi token price chart indicates a developing trend. On August 20, PI reached $0.3739, followed by a lower high of $0.3712 on August 22, signaling a series of declining price peaks. Pi coin price shows bullish divergence on a higher timeframe. | Source: TradingView Meanwhile, the RSI formed higher highs over the same period, creating a bullish divergence. This indicates…