Quick Summary
- PI coin drops 72% from its February peak, signaling major market weakness.
- Current price at $0.63, far below critical support levels.
- Bearish indicators like BoP and CMF point to heavy selling activity.
- Super Trend indicator suggests continued downward momentum.
- Possible support at $0.40, the token’s all-time low.
- Potential bullish scenario if resistance at $0.86 is broken, with a target of $1.01.
PI Coin Under Pressure: A Steep Slide
The PI coin has been under intense pressure over the past couple of months, losing a staggering 72% of its value since peaking on February 26. Currently trading at $0.63, it has sharply declined from its previous highs and shows no clear signs of recovery — at least not yet. The mood among traders is gloomy, with bearish sentiment firmly dominating the market. As of now, sellers appear to be dictating the direction of PI’s price, with buyers struggling to regain control.
Technical Indicators Reflect Market Control by Sellers
Technical indicators strongly suggest that PI is still in the distribution phase, where token holders are offloading their assets rather than accumulating more. One key tool signaling this is the Balance of Power (BoP) indicator. This metric compares the strength of buyers and sellers over a specific time period by analyzing closing prices against trading ranges.
In PI’s case, the BoP is showing a negative value, which confirms that selling pressure is outweighing any buying interest. This clearly implies that traders are not confident in a near-term rebound, and are instead exiting their positions — a move that adds to the downward spiral.
Chaikin Money Flow Adds to the Bearish Narrative
Another indicator reinforcing this bearish outlook is the Chaikin Money Flow (CMF). This indicator assesses the volume of money flowing in and out of a cryptocurrency. A positive CMF value generally suggests accumulation, while a negative one indicates distribution.
Currently, PI’s CMF reads -0.12, which is well below the neutral zero line. This not only confirms that traders are offloading their holdings, but also implies that fresh capital is not entering the PI market. In simple terms, money is flowing out of PI, and this trend supports the idea that the bearish grip on the token remains strong.
Super Trend Indicator Signals Continuation of Downtrend
The Super Trend indicator, widely used to identify prevailing market trends, has also turned against PI. When an asset trades below the Super Trend line, it usually signifies a negative trend, and that’s exactly where PI is sitting — far below the $0.93 level, which previously acted as dynamic support.
This indicator takes both volatility and price movement into account, and when price stays under the trend line for an extended period, it typically means the downtrend is still in full effect. Unless a reversal signal appears soon, PI might continue its descent in the near future.
How Low Can PI Go? The $0.40 Risk
If selling momentum continues at the current pace, PI could very well revisit its all-time low of $0.40. That would mark a 35% further decline from current prices and complete a nearly full retracement of the token’s previous bullish run. Such a move would not only damage investor sentiment further but also raise questions about the long-term viability of PI unless fundamentals or market dynamics shift significantly.
A Glimmer of Hope: Can PI Rebound?
Despite the current negative outlook, all is not lost for PI. If the market starts to stabilize and buyers regain interest, the token may find immediate resistance at the $0.86 mark. A breakout above this level could spark renewed confidence and attract momentum traders back into the market.
Should this happen, the next potential target would be around $1.01, which represents a 60% upside from where PI currently trades. This move could signal a trend reversal and might bring some much-needed optimism back into the PI community.
Final Thoughts: Watch for the Next Move
PI coin’s recent performance has been underwhelming, and technical indicators strongly suggest that bears are in control. However, crypto markets are notoriously volatile and can turn quickly. If buyers step in near key support levels and manage to break past resistance zones, we could witness a sharp recovery.
For now, caution is advised — but for those who believe in the long-term vision of PI, this could also present an opportunity to monitor the token for potential entry points, should signs of reversal begin to emerge.