As summer begins, Pi Coin faces significant price declines, having fallen 75% from its peak in February. This article explores the current market conditions and future forecasts.
Current Market Conditions
Pi Coin has remained between $0.688 and $0.816 in recent weeks. All major short-term moving averages are above the current price, indicating that bears are in control. Indicators such as tightening Bollinger Bands and negative MACD confirm the lack of bullish momentum.
Short-Term Forecast and Investor Sentiment
Analysts anticipate Pi Coin will fluctuate between $0.70 and $0.76 through the end of May. Should buyer interest return, a test of $0.85 could emerge, but this will require sustained trading volume.
Impact of Token Unlocks
Unlock schedules remain a concern: 263 million tokens are set to be released in June, potentially adding downward pressure on the price. Given current market conditions, experts foresee the price sliding toward $0.58–$0.65.
Pi Coin faces pressure from market uncertainty and upcoming token unlocks. Investors await reports from the development team to determine the next steps.
