The Pi coin price has dropped a long way from its early highs. When it launched on exchanges like OKX, Pi Network quickly spiked to almost $3. But fast forward to now and the PI price is trading at just around $0.46. That’s a drop of more than 80%, and understandably, many in the community have lost confidence in the project’s short-term performance.
But looking closely at the chart, this steep decline might be about to reverse.
What you'll learn 👉
Pi Network Price Has Held One Key Support
Over the past few months, the Pi Network price has tested a key support level near $0.4 several times. It first bounced from that level in April, then again in June. Now in July, we’re seeing the same thing happen.
Each time PI hit that $0.4 level, the price bounced back up. That repeated pattern is starting to look like strong evidence that $0.4 could be the final bottom for Pi coin.
On July 5, the PI price was falling again, but instead of crashing through the support, it began to trade sideways. That kind of sideways movement often signals that sellers are losing strength and buyers may be starting to accumulate quietly.
A Breakout Could Be Brewing for Pi Coin
One thing that stands out clearly on the chart is the long-term descending trendline. This trendline has been acting like a ceiling, rejecting every attempt at a strong rally since the peak near $3.
But right now, the price is getting squeezed into a tighter and tighter range. The PI coin is sitting right under that trendline, and it looks like a breakout is coming soon. If the bulls manage to push Pi coin above that line, the pattern could flip entirely.
A breakout here could send Pi Network price shooting back toward higher levels. And if the support at $0.4 keeps holding, that move might come sooner than most expect.
What’s Next for PI Price?
The PI price still has to prove itself, but this setup is interesting. The price is still down more than 80% from its high, but it’s also holding the same floor it bounced off earlier in the year. That makes the current range very important.
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A clean breakout above the descending trendline could open the door for a big move to the upside. If that happens, we could see the Pi coin price start gaining momentum again, possibly heading toward $1 and beyond in the coming weeks.
As always, the market will decide. But right now, all eyes are on that resistance line. If Pi Network price can break through, the bulls might finally get their moment.
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