Let's look at the latest data on Pi Coin prices and analyze key technical indicators to understand market dynamics.
Current State of Pi Coin Market
Yesterday's forecast suggested Pi Coin would trade between $0.85 and $0.95, with a bias toward the lower end. The price indeed fell over 9%, closing at $0.8018, confirming the ongoing bearish pressure.
Technical Indicators Analysis
The Relative Strength Index (RSI) dropped to 26.019, indicating Pi Coin is deeply oversold. The MACD is barely above zero at 0.041, which suggests possible stabilization but not a short-term rally. The Commodity Channel Index (CCI) is at -117.6, highlighting strong selling pressure. Other indicators, including the Ultimate Oscillator, remain below 50, reinforcing the bearish sentiment. The Rate of Change (ROC) fell to -55.9, indicating a rapid price decrease.
Possible Price Scenarios
The bearish scenario suggests continued decline could test support levels between $0.70 and $0.75. A slight recovery is possible if the RSI sparks short-term buying, potentially pushing the price to the $0.95–$1.00 range.
Technical analysis indicates bearish trends for Pi Coin in the near term, though short-term corrective movements might occur under certain conditions.
