Pi Coin Drops 11% From Weekly High Amid Bearish Signals

Pi coin is currently trading near $0.577, marking a significant decline from the $0.646 local high observed earlier in the week. The price action has shown signs of exhaustion after breaking out of a compressed range and testing previous demand zones. Several indicators are flashing weakness below resistance, suggesting a potential downward trend.

The broader 4-hour chart indicates that Pi coin price recently broke above the $0.5412 support level but failed to sustain gains beyond $0.6469. A descending trendline drawn from mid-May continues to cap upside attempts, while the price remains below key resistance levels between $0.62 and $0.66. This zone also aligns with a rejected order block visible on the 1-day chart, reinforcing short-term bearish sentiment. The current price structure remains stuck inside a descending triangle, and unless Pi breaks above $0.6185 (200 EMA on 4H), the move appears corrective rather than a sustained reversal.

The reason for the current downward trend in Pi coin price lies in momentum exhaustion and resistance rejection. On the 30-minute chart, Pi formed a lower high near $0.646 before declining back into the $0.57 zone. The RSI printed a clear bearish divergence at peak levels, followed by a breakdown to 28.10, indicating oversold conditions but without recovery. The MACD shows a bearish crossover, with the histogram in negative territory, confirming selling pressure. The Ichimoku Cloud shows Pi trading below both the Tenkan and Kijun lines, with the price also dipping below the cloud — a signal of near-term bearish trend formation. The VWAP is now acting as intraday resistance at $0.5927, and Parabolic SAR dots have flipped above the price, further suggesting downward continuation.

The 4-hour EMA structure paints a mixed-to-bearish picture. While Pi briefly flipped above the EMA 20–50–100 cluster, it failed to hold above the 200 EMA ($0.6185). The Keltner Channel shows mid-band rejection, with candles now forming below the upper range. On the Stoch RSI, both lines are flat near zero, showing no sign of an immediate bounce. With multiple signals aligning, Pi may be headed for a test of deeper support.

As long as Pi remains below $0.6065–$0.6185, sellers are likely to maintain control. The critical short-term support lies near $0.5600 (Supertrend flip zone), followed by the $0.5412–$0.5285 band, which acted as demand during the recent bounce. Meanwhile, the DMI (Directional Movement Index) shows the -DI line (36.34) leading above +DI (31.02), indicating bears have a slight edge. The ADX at 22.59 remains relatively neutral but slightly rising, hinting that this bearish move could sustain if momentum builds. If bulls manage to push back above $0.5927 (VWAP) with volume confirmation, a test of $0.6185 and even $0.646 could unfold. However, failing to hold above $0.5600 opens the door toward $0.52 and $0.48 — both of which are visible from previous liquidity sweeps on the lower timeframes. Overall, Pi coin price volatility remains elevated, and the compression near triangle support suggests a breakout is nearing. Traders should watch $0.5600 closely for directional confirmation.