Pi Coin Faces Resistance After Breakout

Pi Coin recently surpassed the $0.204 neckline of a cup-and-handle pattern, but encountered significant selling pressure near $0.239, leading to a pullback to approximately $0.209. According to NS3.AI, this rejection was accompanied by bearish divergences in the RSI, Chaikin Money Flow, and Money Flow Index, indicating a weakening momentum during the upward movement. Despite the setback, the breakout remains technically valid. For bulls to aim for a target of $0.272, it is crucial to achieve closes above $0.224 and $0.239. Conversely, a decline below $0.204, and particularly below $0.185, could suggest a failed breakout.