It’s hard not to notice the sharp move in Pi Coin price over the last few sessions. The price has slumped to $0.2088, down 2.61% in a single day and an eye-soaring 11.92% over the past seven days. Market capitalization has followed suit, falling to $1.72 billion.
What’s concerning is that Pi Coin isn’t just following the broader market trend—it’s underperforming it. The buzz around its DeFi testnet and decentralized exchange rollout has diminished, as traders grow more cautious amid technical risks and inflation worries clouding market sentiment.
With volatility picking up, participants are eager to know: will Pi Coin’s price dip further, or is a reversal on the horizon?
### Where Will Pi Price Go Next?
After Pi Coin failed to break out above the key $0.228 resistance level—marking the top of a descending channel—the price tumbled to $0.209. This price action triggered additional technical warning signs, leaving traders on high alert.
On the chart, the Fibonacci 78.6% retracement level at $0.202 closely aligns with the current price zone. This suggests a possible area for sideways consolidation before the next major move.
Looking deeper, the Relative Strength Index (RSI 14) sits at 28.61, a level considered oversold. However, the lack of any bullish divergence indicates buyers aren’t rushing in just yet. Meanwhile, the MACD indicator remains negative with a bearish crossover intact, evidenced by its -0.00074 histogram value.
These signs collectively suggest that market sentiment remains cautious.
### Support and Resistance Levels
Immediate support is found at the psychological $0.20 mark. If Pi Coin decisively breaches and closes below this level, there’s a risk of a deeper pullback toward $0.18, which corresponds to the June low.
Until a significant catalyst emerges, traders should expect choppy price action and increased volatility as the market digests both technical cues and broader supply concerns.
Stay tuned as we continue to monitor Pi Coin’s price movements and the evolving market landscape.
https://coinpedia.org/price-analysis/pi-coin-price-hits-oversold-zone-bears-target-0-18/
