Price Forecast for Pi Coin for May 15

Price Forecast for Pi Coin for May 15

Today, the price of Pi Coin is beginning to show the first indications of tiredness after rising by around 160% during the previous week. After peaking at $1.30 on May 14, Pi is currently trading at about $1.21 and is moving back toward the important short-term support of $1.144. Even while recent Pi Coin price increases withstood overall market volatility, there is a chance of a correction or sideways consolidation because short-term momentum has diminished across indications.

Price Forecast for Pi Coin

What’s Going On With The Price Forecast for Pi Coin?

Before breaking out over $1.30 and reaching highs close to $1.47 on May 13, Pi coin was trading inside an extending Bollinger Band structure on the 4-hour chart. But there was no follow-through on the move. Following a steep selloff, the price dropped back to the Bollinger Bands’ midline ($1.16), which is currently serving as temporary support.

With $1.144 serving as the base and $1.33 serving as the current rejection point, the price action of the Pi Coin currently seems to be building a descending triangle on shorter timeframes. The 30-minute chart, where candles have repeatedly failed to break above the sloping upper trendline, makes this quite evident.

Pi coin daily chart

 

 

 

 

 

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