Recent price predictions for Pi Coin indicate that the cryptocurrency continues to face pressure. The anticipated support and resistance levels have become key aspects in current analysis.
Downtrend Continues
While most of the market is turning bullish, Pi Network appears to struggle, being unable to find buyers. The price continues to drop to new local lows, indicating the potential for further declines. The support at 40 cents might rekindle interest in the cryptocurrency.
Sellers Dominate
A quick look at the volume profile shows that sellers are dominating the chart, with 10 out of 16 days closing in red in July. This has maintained the downtrend, and until the key resistance at $0.52 is broken, it is unlikely that PI can return to an uptrend.
Momentum Indicators Remain Bearish
The daily RSI has consistently remained under 50 points for the past two months and is currently close to 30. This signals weakness and can be interpreted as bearish. For optimism to return, the RSI needs to climb back above 50 and remain above this level.
According to the current analysis, the situation in the Pi Coin market remains tense. The support at $0.40 might play a crucial role in the future price movement, while the dominance of sellers and bearish indicators confirm the need for further monitoring.
