Pi Coin prices have dropped 4.56% in the past 24 hours, with negative trends likely to persist. Key factors include post-event selling and a deteriorating technical picture.
Post-Pi2Day Disappointment
The announcements made on June 28 at Pi2Day initially sparked hope among Pi Network supporters. These included updates like the AI integration in Pi App Studio and a new ecosystem directory staking program. However, the absence of major exchange listings and tangible utility breakthroughs disappointed the community, leading to rapid profit-taking and a price reversal at the resistance level near $0.54.
Technical Analysis and Continuing Weakness
The technical picture has deteriorated significantly. Pi Coin breached key support levels, falling below both its 7-day simple moving average ($0.557) and 30-day exponential moving average ($0.593). The 7-day RSI has dropped to 34.8, signaling weak momentum and increased downside pressure.
Outlook into Mid-July
Unless Pi Network announces concrete exchange integrations or unlocks real-world utility for its tokens, the path of least resistance remains down. Traders may look to capitalize on short setups through July 6, with potential returns exceeding 20% if the downtrend continues.
The price outlook for Pi Coin for the first week of July remains bearish, with declining momentum and unfavorable sector dynamics converging against a sustained recovery.
