Pi Coin Price Prediction: Support in Focus After a Steep Retreat

Key Insights:

• Pi Network showed a possible double-top near $1.9999 before retreating to consolidate around $0.8695, testing key support at $0.8484.
• PI displayed weakening momentum as indicators turned bearish, potentially dropping to $0.6999 if $0.8484 failed to hold.
• It could recover toward $1.2000 if volume spikes above +4M.

Pi coin price prediction hinted at a possible halt to its recent correction. The crypto market surged earlier this week, influencing PI’s price movements.

Investors were uncertain about whether the bullish trend would persist. The future direction of PI remained unclear amid market fluctuations.

Pi Coin Price Prediction

Pi coin price took off from $0.60 to a peak of $1.60, almost three times its value, before facing strong resistance. The peak was a key point. There, the price twice tested $1.60 but could not increase, perhaps creating a double-top formation.

The rejection dropped sharply, and the price now consolidates around $0.8695. Support did seem to find a base at the $0.8484 price level, a critical area that could decide the short-term trend. If the buyers keep this level, a reversal towards $1.00—and even $1.20—could ensue.

Conversely, a break below $0.8484 would have paved the way for $0.6999, confirming the double-top reversal.

Further, moving averages implied weakness as the shorter average fell below the longer one. This means recovery would commence only if the $0.9500 level were regained.

Shifting Participation and Market Sentiment

Following the retracement from $1.60 to $0.8695, the volume profile cleared things up. The Net Volume, tracked on the hourly chart, offered frequent and deep spikes—+10 million and -10 million.

These movements suggested aggressive activity by both buyers and sellers in recent sessions. The latest reading hovered at around -264.24K, which indicated mild sell-side pressure.

The bearish momentum likely persisted, though not as strongly as in previous volume spikes. A stronger buy-side interest would have been needed to reverse the trend.

For instance, on the 9th and 11th, significant positive spikes pushed the price toward $1.50 and $1.9999. On the other hand, the sharpest sell-off on the 12th coincided with a fall from $1.20 to below $1.00.

Since then, fluctuations in volume have been closing, which is a sign of a possible slowdown in either direction. This low-volatility pattern was likely a sign of indecision or the building block for a larger move.

Should net volume increase above +4 million, a rally to $0.95 and even $1.20 may be anticipated. A persistent reading below -1 million indicates a stronger decline past $0.85. This trend could even extend down the Pi coin price to $0.70.

Bearish Momentum of PI Price Increases

Moreover, since the reversal of prices from approximately $0.87, the momentum indicators revealed a powerful bearish tendency. The Relative Vigor Index (RVI) of 31.13 trailed its signal line by 38.46. This signaled increasing downside momentum.

Historically, similar patterns on the 12th and 13th followed a decline from above $1.20. These drops typically reached levels around $0.95.

The RVI itself had produced sharp fluctuations and wild swings, reflecting volatility instead of a steady trend. Such patterns used to emerge on the eve of a strong breakout.

When the RVI fell below 35, it was an indication that bearish pressure might have continued unless a strong reversal was witnessed.

A rebound above 50 could set the stage for further testing at $0.95 or even $1.05. But if the RVI remained under 30, the Pi coin price could drop below support at $0.85, heading closer towards $0.6999.

Momentum here would look poor, and the bulls would need to see a definite shift of strength to regain control.