This article presents an analysis of the recent behavior of the Pi Coin market, including observed trends and potential scenarios for future development.
Downtrend and Consolidation Phase (April 27–30)
From April 27 to April 30, the price of Pi Coin demonstrated a consistent downtrend, falling from around $0.66 to the $0.56 zone. The trading volume remained moderate, indicating a slow distribution phase by sellers. Minor relief rallies failed to break resistance levels, reflecting bearish control. A sharp sell-off was notably observed on April 29, when the price briefly dipped below $0.54, suggesting either a liquidation event or a stop-hunt before a reversal began forming.
Reversal Spike and Momentum Shift (May 1)
In the early hours of May 1, a strong bullish breakout occurred, with a rapid surge in price from approximately $0.57 to over $0.64 accompanied by a significant spike in volume. This indicates potential institutional buying or strong retail interest. The V-shaped recovery may suggest a shift in sentiment from bearish to bullish, at least in the short term. Following the sharp movements, a cooling-off period ensued.
Sideways Movement and Support Formation (Mid May 1)
After the surge, the price settled into a consolidation range between $0.60 and $0.62, typically indicating indecision among traders. The current price is hovering around $0.6105, which appears to be developing into a support floor as it has respected this zone multiple times.
Currently, Pi Coin is in a cooling consolidation phase following a strong bullish reversal. A breakout above $0.6250 with volume confirmation could trigger a retest of $0.64 and potentially higher levels. Conversely, a breakdown below $0.60 may revisit the $0.57 support zone.
