The price of Pi coin hasn’t made much progress lately. After breaking out of a descending channel pattern, Pi tried to recover but couldn’t hold the momentum. Instead, the price fell back and is now testing a key support level around $0.59.
Earlier yesterday, it briefly touched $0.60, but that level was quickly rejected. At the moment, Pi is hovering right around $0.59, and how it behaves here could shape what happens next.
If this $0.59 support holds, we might see a short-term bounce in price. But if it breaks, the next likely stop is around $0.583. The price seems to be caught in a tight range, and there isn’t much action from buyers or sellers. In short, Pi is currently stuck in a wait-and-see mode.
What you'll learn 👉
Technical Indicators Are Leaning Bearish for Pi
According to the latest insights from Investing.com, several key technical indicators from Investing.com are signaling bearish pressure on Pi coin today. Let’s go through each of them, including their full names and what they mean for the current price action.
Relative Strength Index (RSI 14) is at 40.886, showing weakening momentum but not yet in oversold territory.
Stochastic Oscillator (STOCH 9,6) is reading 37.833, which suggests continued selling pressure with room for further downside.
Commodity Channel Index (CCI 14) comes in at -13.6871, basically neutral, indicating no strong push in either direction.
Average True Range (ATR 14) sits at 0.0175, showing low market volatility.
Rate of Change (ROC) is 1.83, which gives a mild buy signal, but it’s not enough to outweigh the bearish outlook from the other indicators.
Moving Averages Confirm the Downtrend
All major moving averages are signaling a bearish trend. Pi is trading below the 20-day, 50-day, 100-day, and 200-day moving averages, which are currently at much higher levels.
This confirms weakness across short, medium, and long timeframes. Until Pi can reclaim one or more of these averages, it’s unlikely to break out of the current downtrend
Read Also: Why XRP Price Could Be Headed to $17 – And Maybe Even Higher
Pi Coin Price Prediction for Today (May 3)
Taking everything into account, the PI price today is likely to stay under pressure. The key level to watch is $0.59. If that support holds, there’s a chance for a small bounce back to $0.60 or slightly higher. But if that level breaks, then the next target becomes $0.583.
With low volatility, weak RSI, and all major moving averages pointing down, Pi coin is not showing any strong signs of a bullish move today. Traders should be cautious and watch how the price reacts around the $0.59 zone.
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