This article presents an analysis of Pi Coin's price behavior, including support and resistance levels, and potential future scenarios.
Parabolic Spike and Sharp Reversal
Starting in May, Pi Coin traded sideways below $0.80 until May 9-11, when an explosive rally lifted prices above $1.70. This movement was steep and unsustainable, typical of a parabolic rise — often fueled by hype, leveraged positions, or speculative trading. However, the price quickly reversed, forming a tall 'wick' on the candlestick, a classic sign of a blow-off top. This spike and subsequent sharp decline reflect a 'pump-and-dump' pattern — a rapid ascent followed by immediate correction. The drop back below $1.00 occurred as rapidly, indicating a lack of fundamental support or long-term buying interest.
Pi Coin – Descending Channel and Consolidation
Following the peak, the asset began forming lower highs and lower lows, indicating a downtrend channel through mid-May. The price stabilized in the $0.70–$0.90 range after May 17, consolidating with reduced volatility — suggesting the market is seeking equilibrium. This behavior often reflects a shift in trader sentiment from speculative to cautious. Buyers and sellers are now more evenly matched, and the chart no longer shows extreme directional bias.
Key Support and Resistance Levels for Pi Coin
Support Zone: Around $0.70 – This level has acted as a floor during the post-spike correction. Multiple bounces here suggest accumulation or at least temporary defense by bulls. Resistance Zone: Between $0.90–$1.00 – Several rejection wicks around this area indicate strong selling pressure, making it the next key level to break for any bullish momentum to resume.
In short, while the hype-driven rally has cooled, Pi Coin appears to be in a period of accumulation. Traders should remain cautious but alert, particularly in this low liquidity environment where volatility could return quickly.
