We predicted yesterday that Pi Coin’s price could drop to $1.30 if sellers pushed the market below the $1.50 support level. That scenario is now unfolding as Pi Coin is down over 7%, currently trading at $1.39.
Alongside the price drop, trading dropped over 10%, showing the market is slowing down. The technical signs look negative, suggesting prices might keep falling unless more buyers come in.
What you'll learn 👉
Indicators Reflect Bearish Sentiment
The technicals don’t look good right now for Pi Coin as per the investing.com platform.
The RSI is at 41.04, showing selling pressure that hasn’t yet reached oversold levels. The MACD is still negative at -0.013, confirming the downward trend.
The ultimate oscillator sits at 49.912, showing a balance between buying and selling without a clear direction. The Rate of Change shows some buying interest, but not enough to reverse the bearish trend. All these indicators point to continued selling pressure with no signs of a reversal soon.
Read Also: Here’s Why BinaryX (BNX) Price Is Pumping
Pi Coin Key Support Level at Risk
Pi Coin’s price is hovering near a key support trendline on the 4-hour chart. This price level has been tested several times before, usually leading to a bounce. If buyers step in again, the price might stabilize and move toward the $1.80 to $2.00 resistance range.
But if the support fails, the next target would be the $1.30 to $1.35 range. Breaking below this could cause further drops as selling intensifies.
Pi Coin Price Outlook for Today
With the current momentum, Pi Coin might test the $1.30 support level soon. If this holds, we could see movement between $1.30 and $1.50 throughout the day. But if selling continues, further decline is possible.
A recovery could happen if buyers push Pi Coin’s price back above $1.50, potentially retesting the $1.70-$1.80 zone. However, breaking past recent highs seems unlikely without a change in market sentiment. Watch the volume levels; increased buying could signal a possible reversal.
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