Will Bearish Pressure Push Pi Coin Price To $0.40 Soon?

• Pi Network’s Chaikin Money Flow (CMF) indicator has dropped below zero, signaling increasing selling pressure and weakening buyer control.
• The Squeeze Momentum Indicator shows Pi Coin entering a low-volatility phase with bearish momentum likely to trigger a sharp price drop.
• Analyst Dr. Altcoin predicts Pi Coin could fall to $0.40 by late August, citing a lack of transparency and ongoing bearish momentum.

Pi coin price has come under renewed downward pressure, shedding nearly 1% today as market sentiment weakens. As its price slips to the $0.63 range, technical indicators and analyst forecasts suggest the token may continue falling in the weeks ahead.

Pi Coin Price On-Chain Indicators Signal Selling Pressure

Pi Coin Chaikin Money Flow (CMF) indicator has dipped below the neutral zero line. This movement suggested an increase in capital outflows from the asset and declining inflows, a pattern often observed when selling outweighs buying activity. With the CMF in negative territory, bearish pressure is building as investors reduce exposure.

Consequently, this shift in market dynamics pointed to reduced confidence in the asset’s short-term outlook. The CMF drop aligns with recent market behavior, where Pi Coin’s price has struggled to maintain upward momentum. The lack of strong buying interest has created conditions conducive to further losses unless a reversal occurs.

Pi Coin Price Squeeze Momentum Indicator Suggests Volatility

Another technical indicator, the Squeeze Momentum Indicator, is also reflecting a concerning trend. The appearance of black dots on the momentum chart signals a period of low volatility, typically followed by a sharp movement in either direction. In Pi coin case, the current momentum shows bearish pressure building.

As the chart transitions to blue dots after the black sequence, this change suggests the early stages of a bearish squeeze. Traders often interpret this setup as a sign of possible sharp downward price action. Given the weakening trend across both volume and momentum, the conditions appear unfavorable for a price rebound in the near term.

Analyst Forecasts Decline Toward $0.40 Range

According to market analyst Dr. Altcoin, Pi Coin may face extended downward pressure that could push the price toward the $0.40 level. He has projected this potential bottom could be reached by late August, assuming the current trend holds. The forecast builds on previous analysis showing a lack of transparency around the project as a key factor deterring investor confidence.

Furthermore, Dr. Altcoin’s commentary noted a recurring concern in the crypto community, investor caution surrounding projects with limited public information from the development team. As long as uncertainty remains, price recovery may remain limited despite overall market movements. He maintained that more clarity from the Pi Network team would be essential for a reversal of sentiment.

Pi Coin Price Technical Analysis Signals Potential Crash

Meanwhile, Pi Coin recently surged to $1.66 earlier this month, marking a 310% increase from its yearly low. The rally was fueled by anticipation around Pi Network Ventures, with many investors expecting listings on major exchanges like Binance, Coinbase, or Upbit.

However, the announcement failed to meet these expectations, triggering a sharp reversal in price. Since then, Pi Coin has fallen below its 50-period moving average on the eight-hour chart, a bearish technical signal. It is now testing key support at $0.6606, the lowest level recorded on May 17.

A decisive drop below this support could push Pi Coin toward its all-time low near $0.40, a potential 40% decline from current levels. The ongoing weakness suggests sellers remain in control.

To reverse this outlook, the price would need to climb above $0.8680, the neckline of a recent double-bottom pattern marked on May 21. A breakout above this level may invalidate the bearish setup and signal a potential rebound.