PI Coin has dipped by another 35% since breaking below a key support level at around $0.72 that was holding its price. The continuous red candlesticks following this support breakdown indicate persistent selling pressure.
Today alone, the price has dropped by 30% from yesterday’s closing price. However, there are early signs of bulls fighting back as they attempt to push the price upward.
The current 4-hour session shows green movement with the price trading higher than the last 4-hour session’s closing price. If this momentum continues and PI manages to trade above today’s opening price of around $0.52 and then $0.58 (yesterday’s opening price), we could witness a bullish reversal pattern.
In such a scenario, we would expect a retest of the recently broken support levels. Key levels to watch would be $0.65, followed by $0.72. Breaking above $0.58 could trigger enough bullish momentum to begin testing these resistance levels.
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Technical Outlook for PI Price
The overall trend for PI Network’s token remains bearish until the price successfully breaks above the major resistance at $0.72, which coincides with the 0.7202 Fibonacci retracement level. A breakthrough above this threshold could attract more bulls to enter the market and push the price higher.
If the bears maintain their strong position, we could see continued downward pressure resulting in sideways trading with minor selling movements throughout today’s sessions. The market structure currently favors the bears, but early signs of bullish interest are appearing on shorter timeframes.
Bullish Scenario for PI Today
If PI coin successfully breaks and holds above the $0.58 level, we can expect an initial move toward $0.65. This would represent the first confirmation of a potential trend reversal. With increasing buying volume, the price could extend gains to test the $0.72 psychological resistance level.
Related Article: How High Can Pi Coin Price Rise in 2025?
Bearish Scenario for PI Today
If PI coin fails to reclaim and hold the $0.58 level, we’re likely to see either sideways consolidation or a continued decline toward the $0.52 support zone. This would indicate that sellers still control the market and that yesterday’s bearish momentum remains intact.
With intensified selling pressure, further downside movement could test the critical $0.45 support level. A break below this would suggest that the current correction phase isn’t over and could open the door to additional losses.
Traders should closely monitor the 4-hour candle closures as they will provide important signals about which scenario is more likely to play out for PI Network’s cryptocurrency today.
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