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.

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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