Solana News Today: Pi Coin Faces Critical $0.29 Threshold—Will It Recover or Is This a Temporary Surge?

Pi Coin’s latest price movement has sparked renewed discussion among investors about whether the cryptocurrency is on the verge of a lasting recovery or simply experiencing a brief uptick before resuming its decline. Following a 26% jump within a single day,

, the token climbed to $0.2610, reclaiming important moving averages. The 20-period exponential moving average (EMA) recently moved above the 50-period EMA—a classic “golden crossover”—which typically signals short-term bullish strength, . Still, indicators such as the Chaikin Money Flow (CMF) remain subdued, suggesting that significant institutional buying has not yet occurred.

The strongest argument for a possible trend reversal comes from Fibonacci retracement analysis. Pi Coin’s price found support at the 0.618 golden pocket, a key area where buyers showed strong interest, resulting in a bullish engulfing candle on the 4-hour chart,

. This setup, along with a bounce from the $0.20–$0.22 accumulation range, has renewed optimism that the token might challenge the $0.29 resistance level. Crypto.News analysts emphasize that maintaining price above this Fibonacci threshold is vital: a decisive move above $0.29 could attract momentum traders and indicate a broader shift in trend.

However, bearish concerns persist. Over the last quarter, Pi Coin has dropped 36.8%,

, and technical signals suggest the rally may not last. Both the Relative Strength Index (RSI) and Money Flow Index (MFI) have revealed hidden bearish divergences, where price peaks have not matched momentum indicators, . Furthermore, the CMF only recently turned positive after being negative since mid-September, casting doubt on the durability of the current uptrend. “Without robust money inflows or support from large holders, this rally could quickly lose momentum,” a Yahoo Finance review cautioned.

Market structure also suggests a pivotal phase for Pi Coin. On the daily timeframe, the price remains within a falling wedge—a pattern often preceding bullish breakouts. A close above $0.29 would confirm a reversal, potentially targeting $0.32 and $0.37. On the other hand, a drop below $0.20 would negate the bullish scenario, exposing support at $0.19 and $0.15.

Institutional outlook appears cautiously positive. The Smart Money Index (SMI), which tracks the activity of historically successful wallets, has moved above its signal line for the first time in weeks, indicating that larger players may be returning. At the same time, retail involvement has grown, with the Money Flow Index reaching higher highs since mid-October. Still, these trends require confirmation through sustained volume and price movement.

The wider market backdrop adds further complexity. While Pi Coin’s rally stands out amid broader crypto market fluctuations, projects such as

(SOL) and BlockDAG (BDAG) have attracted attention for different reasons. Solana’s technical strength and speculation about BlockDAG’s potential listings on Coinbase and Kraken illustrate the diverse directions within the crypto sector. For Pi, the main question is whether its recent momentum can overcome ongoing challenges like thin liquidity and limited exchange availability.

As the token nears significant psychological thresholds, traders will be watching for decisive signals. A sustained rise above $0.29 could trigger new buying interest, while failing to hold above $0.20 might indicate a return to bearish conditions. For now, Pi Coin’s path depends on whether the current surge reflects a genuine shift in sentiment or just a temporary pause in a longer-term decline.