Pi Coin Shows Signs of Recovery After Long Oversold Phase

A post by @Koreanteacher1 brings into the limelight the better behavior that has been witnessed in Pi Coin having sat in an oversold zone during a long period. The chart indicates that PI was spending its weeks under intense selling pressure, but the asset has eventually begun to stabilize. The comparative weakness of PI now becomes less than other altcoins, the earliest signs of a bottom.

The chart compares the top 100 cryptocurrencies within the last 90 days, which forms a clear image of successful and unsuccessful ones. Meme coins are further topping the list with rockets and a couple of major altcoins are not doing any better as they are deep into negative territory. The chart ranks all the coins according to percentage change with huge differences between the high and the low flyers.

Position of Pi Coin in this Ranking

Pi Coin is just in the middle of the negative performers, -33.5% in the past 90 days. Although PI is still at the red, it is doing better than dozens of large altcoins such as IOTA, DOT, MATIC, and ETHFI. This comparative advancement lifts Pi up the scale, which justifies the argument that the force of gravity on its downside is diminishing.

Pi has an overpriced status that is even longer than the majority of crypto assets. PI started flattening instead of falling down in the chart, which is a common indicator of the exhaustion of sellers. Markets normally develop bottoms as the slowness of selling occurs and PI has now taken the initial signs of a stabilization period. The traders take this movement as a possible reversal of momentum.

Compared to other large Altcoins.

The chart compares the performance of PI to popular assets:BIGGER LOSERS: IOTA (44%), DOT (44%), MATIC (43%), ETHFI (44%).
MID-RANGE LOSERS: PI (–33.5%), TAO (–24%), TRX (–24%).
WINNERS: DOGS (+200%+), NEIRO (+150%+), PEPE (+100%+), WIF (+80%).
BTC (15 percent growth) and ETH (10 percent growth) are not really high but steady.
This comparison indicates that PI with the amount of losses does better in the market compared to a significant part of the market

The data in the chart is obtained by the CoinMarketCap index of the Altcoin Season which tracks the behavior of altcoins to that of Bitcoin during a given time frame. Analysts are confident in using this tool to assess the movement of money in or out of the altcoin market. The trend of PI in the index allows it to tell the story of the declining relative weakness.

Community Interest and Engagement

The posting created increasing amounts of interest among proponents of Pi who track these trends. The animator also added in-sized images and direction lines that point to PI to trigger debates on whether the token is about to turn around. The fact that the data and sentiment are combined reinforce the opinion that PI can experience a recovery stage in the nearest future.

Pi Coin is at a special stage because the project is still on its mainnet transition. Due to the sheer size of the Pi community with a limited market access, the actions of the market are frequently not as predictable as it would have been with traditional altcoins. An extended oversold phase and then bottoming action means that PI will move to a more stable or bullish phase when the demand rises.

After months of selling, Pi Coin now has more indications of stabilizing. In the case this pattern persists, PI can become stronger when compared to the wider market, which would draw more attention of traders who track the overseold reversal plays.