Pi Coin Price Surges Ahead of Mainnet Upgrade Deadline
- Price Surge: Pi coin price jumped approximately 12% on Friday, recovering to $0.152 from recent lows, despite being over 60% down in the last six months, indicating market anticipation for the mainnet upgrade.
- Mainnet Upgrade Deadline: The February 15 deadline set by the Pi Core Team for mandatory node upgrades is seen as a pivotal event aimed at stabilizing the ecosystem, with positive market reactions potentially attracting more investor interest.
- Divergent Market Sentiment: Despite the price rebound, traders are split on whether this is merely a short-covering rally, with some analysts warning that the bearish trend remains dominant until the price convincingly reclaims $0.535, suggesting caution.
- Macro Environment Impact: Against the backdrop of ongoing volatility in major digital assets like Bitcoin and Ethereum, the rebound in Pi coin price may reflect broader market sentiment, with the coming days crucial in determining the sustainability of this uptick.
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Technical Analysis for BTC
Technical Sentiment Analysis for Bitcoin (BTC). As of , Bitcoin (BTC) is exhibiting a Sell technical sentiment. Our proprietary analysis, which aggregates 6 technical signals, shows that 2 indicators are flashing buy, while 4 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for BTC stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the crypto.
Support, Resistance & Moving Averages. From a structural perspective, BTC is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
Bitcoin (BTC) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 43214.373 | 51607.187 | 60185.893 | 68578.707 | 77157.413 | 85550.227 | 94128.933 |
| Fibonacci | 51607.187 | 58090.307 | 62095.586 | 68578.707 | 75061.827 | 79067.106 | 85550.227 |
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