• Pi Coin’s volatile October left investors cautious, with CMF data showing outflows as traders take profits instead of reinvesting.
• The Squeeze Momentum Indicator signals a buildup phase, hinting at a potential volatility expansion that could trigger a sharp bullish move.
• Trading at $0.254, Pi Coin must reclaim $0.260 to target $0.300 and $0.360, while failure to hold $0.229 risks a drop toward $0.209.

Pi Coin experienced a volatile October, marked by sharp price swings that saw the altcoin both crash and recover within weeks. While this turbulence briefly restored investor optimism, the broader outlook remains cautious. 

Despite the rebound, Pi Coin price still faces an uphill battle to regain lost momentum, and current market signals suggest that many investors may not be fully committed to another recovery attempt in November.

Pi Coin Investors Show Skepticism

The Chaikin Money Flow (CMF) indicator shows that investors are retreating from Pi Coin. This week, the CMF fell below the zero line, signaling that outflows now dominate the market. This trend indicates weakening confidence as traders cash out profits from the recent rally rather than reinvesting.

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Such consistent outflows often signal that buying demand is drying up, limiting upside potential. If selling pressure persists, it could dampen Pi Coin’s prospects heading into November. Without a shift in sentiment, maintaining current price levels may become increasingly difficult for the altcoin.

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The Squeeze Momentum Indicator, however, paints a more nuanced picture. The indicator is showing a squeeze building at the moment, suggesting that volatility could soon expand. As the bars begin to shift toward positive momentum, the indicator implies growing bullish potential in the background.

A squeeze release in an uptrend often triggers explosive price movement. If this occurs during a period of renewed optimism, Pi Coin could experience a sharp rise. Investors and traders alike should watch closely for signs of confirmation that the squeeze is ready to release, which could determine the tone for November’s price action.

PI Price Recovery Has A Long Way To Go

At the time of writing, Pi Coin trades at $0.254, sitting just below the $0.260 resistance. The immediate short-term goal for the token is to reach the $0.300 psychological level, which would strengthen bullish confidence.

However, if investor sentiment remains weak and inflows fail to pick up, Pi Coin’s price may fail to breach $0.260. A breakdown through $0.229 could push it lower toward $0.209, deepening the current correction.

Conversely, if the altcoin gains momentum and climbs to $0.300, it would represent an 18% rise, potentially attracting new inflows. A sustained push could extend the rally toward $0.360, helping Pi Coin recover September’s losses and invalidate the bearish thesis.

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