Pi Coin's Bearish Crossroads: Will Community Passion Outlast Technical Headwinds?

Pi Coin is currently navigating a bearish technical setup, with analysts highlighting the formation of a classic pattern that signals potential downside risk. This pattern, formed as Pi (PI) recently pulled back from a short-lived rebound, has drawn attention from traders and investors who are closely watching price developments. The neckline of the pattern is situated at , and a breakout below this level could open the door to a new all-time low at . This would represent a continuation of a downward trend that has persisted despite recent network upgrades and a modest 3% increase in the past 24 hours.

Technical indicators reinforce the bearish narrative. The Relative Strength Index (RSI) is currently at , indicating that the coin is not yet oversold and has room to decline further. Meanwhile, the Moving Average Convergence Divergence (MACD) remains flat to slightly bearish, aligning with the broader breakdown scenario. For bulls to regain control, Pi would need to reclaim the level with strong volume. Until then, analysts suggest that most rebounds are bear traps, setting the stage for another leg down.

The Pi Core Team has continued to make progress with network upgrades, particularly with the deployment on , which marks a key step toward enabling new layers of functionality and control on the blockchain. The upgrade includes updated and , aiming to improve performance and regulatory compliance. These updates have been welcomed by the Pi community, though the price response has been muted. The network is expected to undergo a temporary offline period during the full implementation, which could add to downward price pressure. Historically, such technical disruptions in the crypto space have often coincided with bearish price movements.

Despite the bearish technical signals, there are some bullish developments that have emerged. A separate analysis by has identified a hidden bullish divergence between Pi’s price action and MACD indicators. This pattern historically precedes trend reversals in crypto markets and has led the analyst to predict a to . However, this projection faces headwinds from the ongoing token unlocks scheduled through December 2025, including a large release of in December alone. Historical data from previous unlocks show that increased supply pressure can lead to sharp price corrections, as seen in the 25% decline following a 337 million token unlock in July 2025.

Community enthusiasm remains a key factor in Pi Coin's story. With over , Pi Network benefits from one of the largest pre-launch communities in crypto history. These users are not only engaged in the mining process but also in app development, moderation, and promotion. The ecosystem is still in its early stages but has shown signs of growth, including the introduction of the , , and . However, full adoption and utility are contingent on the network's Mainnet migration and eventual listing on major exchanges, which remain pending.

The Pi Network is also gaining visibility in the broader crypto ecosystem, with co-founder set to appear at in Singapore. This will be her first major public appearance since the project's 2019 launch and is expected to provide clarity on the network’s future roadmap. The conference could also serve as a platform for Pi to connect with institutional investors and explore potential listing opportunities. However, until these developments materialize, the coin remains largely speculative, with its value heavily dependent on community-driven adoption and real-world utility.

In summary, Pi Coin is at a pivotal juncture, with bearish technical patterns and supply-side challenges weighing on its price action. While the project continues to make infrastructure progress, the market is testing key support levels, and a confirmed breakdown could signal a new bearish phase for the asset. Analysts will be watching closely for signs of a reversal, though the current environment remains cautious for investors.