Solana News Today: Pi Coin Faces Critical $0.29 Threshold—Will It Recover or Is This a Temporary Surge?
Pi Coin’s latest price movement has sparked renewed discussion among investors about whether the cryptocurrency is on the verge of a lasting recovery or simply experiencing a brief uptick before resuming its decline. Following a 26% jump within a single day,
The strongest argument for a possible trend reversal comes from Fibonacci retracement analysis. Pi Coin’s price found support at the 0.618 golden pocket, a key area where buyers showed strong interest, resulting in a bullish engulfing candle on the 4-hour chart,
However, bearish concerns persist. Over the last quarter, Pi Coin has dropped 36.8%,
Market structure also suggests a pivotal phase for Pi Coin. On the daily timeframe, the price remains within a falling wedge—a pattern often preceding bullish breakouts. A close above $0.29 would confirm a reversal, potentially targeting $0.32 and $0.37. On the other hand, a drop below $0.20 would negate the bullish scenario, exposing support at $0.19 and $0.15.
Institutional outlook appears cautiously positive. The Smart Money Index (SMI), which tracks the activity of historically successful wallets, has moved above its signal line for the first time in weeks, indicating that larger players may be returning. At the same time, retail involvement has grown, with the Money Flow Index reaching higher highs since mid-October. Still, these trends require confirmation through sustained volume and price movement.
The wider market backdrop adds further complexity. While Pi Coin’s rally stands out amid broader crypto market fluctuations, projects such as
As the token nears significant psychological thresholds, traders will be watching for decisive signals. A sustained rise above $0.29 could trigger new buying interest, while failing to hold above $0.20 might indicate a return to bearish conditions. For now, Pi Coin’s path depends on whether the current surge reflects a genuine shift in sentiment or just a temporary pause in a longer-term decline.
