This week, Pi Coin is facing pressure, continuing to hover around the price of $0.6340 after a failed attempt to reclaim the resistance level at $0.66. Let’s discuss the current situation and key technical indicators.
Market Status of Pi Coin
The price of Pi Coin remains trapped between $0.636 and $0.66, showing weak volatility. Following a failed breakout attempt above $1.75, the token is losing momentum. Trading volume is dropping, and traders are closely watching the situation, wondering if the support level around $0.63 can hold.
Technical Analysis Overview
Current technical indicators suggest a bearish sentiment in the market. The RSI is at 41.20, indicating weak momentum. The key support level sits between $0.60 and $0.62, while resistance remains at the $0.66 mark. The chart is showing a clear downtrend from the March peak, indicating that bears are defending any rally attempts.
Forecasts for Tomorrow
Looking ahead to the next few days, three scenarios are possible: if $0.636 fails to hold, the price could slide towards $0.60; if it continues moving sideways between $0.636 and $0.66, that would indicate range-bound movement until a new catalyst appears; finally, if Pi Coin breaks above $0.66 on volume, it could lead to a move towards $0.70. However, this scenario requires significant news or a listing.
Pi Coin continues to trade within a narrow range with fading volume and low volatility. Current indicators remain bearish, and the descending trendline still caps any upward movement. Watch for a daily close below $0.630 or above $0.66 to confirm the direction of the next move.
