Pi Coin Price Prediction for March 12

After a relief rebound in the last two days, Pi Network (PI) has approached a crucial pivotal stage that will decide its fate for the coming weeks. The large-cap altcoin, with a fully diluted valuation of about $16.3 billion and a daily average trading volume of about $405 million, has rebounded around 8 percent in the past two days to trade about $1.48 on Wednesday, March 12, during the early European session.

As a result, Pi coin was the top trending crypto asset on Coingecko in the past 24 hours, signaling its rising popularity among speculative traders.

Pi Coin Price Prediction Today

In the 1-hour time frame, Pi price has been consolidating in a symmetrical triangular pattern for the past four days. Following the reliefs rebound in the past two days, Pi price is now retesting the upper border of the symmetrical triangular pattern.

As Coinpedia previously noted, Pi price has already confirmed a reversal pattern, which was characterized by head and shoulders formation coupled with a bearish divergence of the daily Relative Strength Index (RSI). Consequently, the odds of a reversal toward a lower low remain high in the coming days.

Moreover, zooming into the 5-minute time frame shows a clearer picture of the bearish sentiment. Notably, Pi price has been forming a potential double-top coupes with a bearish RSI in the five-minute candlestick. Consequently, a consistent drop below $1.46 will eventually lead to a further decline towards the lower border of the symmetrical triangular pattern.

However, a consistent close above the upper border of the symmetrical triangular pattern will lead to bullish sentiment in the coming days.

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