Pi Coin continues to trade within a narrowing range, testing an important resistance line. Following a surge to nearly $1.75 earlier this month, the token's price has steadily declined.
Current Situation of Pi Coin
The current price of Pi Coin is $0.7677, down 2.96% over the past 24 hours. Trading volume has decreased by more than 60%, and most indicators signal adverse trends. Support holds at $0.73 – $0.74, while resistance is at $0.78.
Pi Coin Chart Analysis
The 4-hour chart shows a descending triangle formation, which is a bearish structure. Since early May, the price of Pi Coin has shown lower highs and failed breakout attempts. Today, the price is testing the top of the triangle again, but without sufficient volume for a breakthrough.
Price Predictions for Pi Coin
There are several scenarios for the future price movement:
**Bullish Scenario**: A breakout above $0.78 with a strong close could push Pi Network towards $0.85, with potential for $0.90 if volume increases.
**Neutral Scenario**: Price holds between $0.73 and $0.78, continuing range-bound consolidation while traders await a clear trend.
**Bearish Scenario**: A drop below $0.73 could trigger a decline to $0.70 or even $0.65, especially if volume spikes.
Pi Coin's price is under pressure, with potential for a breakout both upwards and downwards. It is essential to monitor support and resistance levels in the coming days.
