PI lags behind market gains | Credit: Hameem Sarwar
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Key Takeaways
PI is failing to participate in the broader crypto rally, as the price remains capped near $0.17.
Trading volume has surged by 56%, instead, sellers continue to dominate the price action.
Indicators like RSI and AO remain weak, suggesting continued downside risk for the PI coin.
Pi Network (PI) is showing clear signs of weakness at a crucial time. Despite a broader market rally, the altcoin is struggling to move beyond $0.17.
Trading volume has surged by 56%, yet buyers are still struggling to gain traction.
Meanwhile, sellers continue to dominate price action. As a result, pressure is intensifying, setting the stage for prolonged consolidation.
No Clear Reversal Signals
PI remains under pressure, and the structure continues to favor sellers. After a sharp rally toward the $0.30 region, the asset faced strong rejection, which triggered a decisive shift in market structure.
Since then, the price has failed to recover meaningfully, confirming a transition from bullish momentum into a sustained downtrend.
The asset has entered a prolonged distribution phase.
Lower highs and weak bounces began to form, signaling fading buyer strength. PI’s price broke below the $ 0.17-$ 0.18 support zone, which previously served as a key demand area.
This breakdown confirmed bearish continuation and shifted the level into resistance.
Each push higher is quickly absorbed, indicating persistent sell-side pressure.
At the same time, the lack of strong moves suggests reduced buyer participation. As a result, the market is compressing near the lows rather than showing signs of reversal.
Indicator signals further reinforce the cautious outlook on the 4-hour chart. The Chaikin Money Flow (CMF) is slightly positive but remains relatively flat, suggesting weak, inconsistent capital inflows.
Meanwhile, the Bull Bear Power (BBP) shows diminishing volatility, with small histogram prints reflecting indecision and low momentum.
Consequently, neither bulls nor bears are showing strong conviction, but the prevailing trend still leans downward.
The $0.18 level now acts as immediate resistance.
A failure to reclaim this zone keeps the bearish structure intact and increases the likelihood of a breakdown below $0.17. If that happens, the PI coin price could extend lower as liquidity is taken.
PI Price Forecast: Bearish Phase to Continue
On the daily chart, PI’s price action continues to respect a descending trendline. The broader structure still reflects lower highs and lower lows, reinforcing downside control.
After a sharp rejection near the 0.5 Fibonacci level in March, the price failed to maintain momentum and rolled over, confirming that sellers remain dominant at key resistance zones.
Currently, PI trades around $0.17, hovering just above a critical support level.
This level aligns closely with recent demand, helping to prevent further breakdowns. However, momentum indicators suggest weakness persists.
The Relative Strength Index (RSI) trends below the midline, signaling limited bullish strength, while the Awesome Oscillator (AO) histogram remains negative, reflecting ongoing bearish momentum.
If support holds, a short-term bounce toward $0.23 is possible. However, failure to defend current levels could expose the PI coin to deeper losses toward the $0.13 zone.
Disclaimer:
The information provided in this article is for informational purposes only. It is not intended to be, nor should it be construed as, financial advice. We do not make any warranties regarding the completeness, reliability, or accuracy of this information. All investments involve risk, and past performance does not guarantee future results. We recommend consulting a financial advisor before making any investment decisions.
Victor Olanrewaju is a crypto analyst and reporter at CCN with deep roots in on-chain research and technical analysis. His crypto journey began in 2017, but it was the 2020 Uniswap airdrop that sparked a full-time pivot into the space.
With a foundation in copywriting, Victor honed his craft creating high-converting content for leading crypto brokers — most notably an XRP price prediction that ranked #1 on Google during the 2021 bull run.
He later joined AMBCrypto in 2022, where he combined storytelling with technical and on-chain analysis to cover key market narratives.
In 2024, he expanded his expertise at BeInCrypto, collaborating with analysts and using tools like Glassnode, Santiment, and IntoTheBlock to break down Bitcoin and altcoin trends.
At CCN, Victor covers the top cryptocurrencies, memecoins, macro shifts, blending real-time insights with deep-dive metrics.
He holds a Bachelor’s degree in Physics from the University of Ibadan, equipping him to simplify complex data for a wide audience. Follow his work or connect on LinkedIn or X.
