Pi Coin Drops 2.13% Amid Bearish Pressure

Pi Coin (PI) has been experiencing a downward trend, with its price hovering near $0.4510, marking a 2.13% daily decline. This decline is attributed to sustained selling pressure, which has pushed the token below descending resistance zones. Multiple technical indicators suggest that bearish dominance is likely to continue unless bulls can defend the $0.44 psychological level.

Over the past week, Pi Coin's price action has remained under pressure, with each bounce facing rejection from lower trendlines. On the 4-hour chart, PI is locked within a descending wedge, trading below the $0.47–$0.48 resistance band that previously served as a support shelf. The most recent attempt to retest the $0.46 handle failed, with the price drifting back toward fresh weekly lows.

The broader daily chart shows a confirmed break of structure (BOS) after the price collapsed from the $0.60 zone in June. That area has since become a major supply zone, as illustrated by the Smart Money Concepts chart. The current range near $0.44 is sitting just above the last strong low formed in late April.

The technical weaknesses across timeframes provide insight into why Pi Coin's price is going down. The MACD on the 30-minute chart shows a fading bearish crossover, but the histogram remains negative, suggesting ongoing downside bias. Meanwhile, the RSI is sitting around 39.5 — below the neutral 50 line — confirming weak momentum and limited buying conviction.

On the 4-hour timeframe, PI is consistently trading below the 20, 50, 100, and 200 EMAs. The dynamic resistance from these averages continues to reject any bullish advance. In addition, the Bollinger Bands have expanded downward, signaling growing volatility and confirming the intensity of the current downtrend. The Supertrend indicator flipped bearish at $0.4775 and has stayed red throughout July, while the DMI shows rising -DI (36.52) and a climbing ADX (33.3), indicating trend strength in favor of sellers.

The daily structure remains weak, with Pi Coin price struggling to defend the $0.44–$0.45 liquidity zone. The volume profile suggests low interest below current levels, which may increase the probability of a fast breakdown if the $0.44 mark fails. From a Smart Money perspective, PI broke the last bullish order block at $0.496 and left a large inefficiency zone between $0.48 and $0.52. Liquidity maps now point toward the next demand area near $0.40, aligning with unfilled inefficiencies from May.

Traders should also note that the price remains well below the VWAP on the 30-minute chart, and each retest of the upper VWAP band has resulted in swift rejection, reinforcing the short-term bearish structure. Looking ahead, Pi Coin price must hold above the $0.44–$0.442 support to avoid a breakdown toward $0.40. If this base cracks, the next downside target could be $0.395, where previous BOS and low-volume nodes cluster. On the upside, reclaiming $0.465 would be the first sign of trend reversal, with further targets near $0.48 and $0.50.

That said, with RSI and MACD both leaning bearish and Supertrend plus DMI confirming trend continuation, the short-term outlook favors sellers unless bulls step in with volume. The current technical indicators and price action suggest that bears may push PI below $0.44 amid mounting sell pressure, but bulls have a chance to defend this level and potentially reverse the trend if they can muster enough buying conviction.