Pi Coin Drops 25% From Peak Amid Bearish Momentum

Pi Coin has been experiencing a downward trend for several weeks, with repeated rejections from a strong descending trendline. As of the latest update, the price of Pi Coin is around $0.49, a significant drop from its recent peak of $0.66. Despite a 22% increase in trading volume, momentum indicators remain bearish, suggesting that the downtrend is likely to continue.

Throughout June, every bounce in Pi Coin's price has been quickly sold off, with no successful breakouts. If buyers cannot push the price back above the $0.54 to $0.60 range soon, Pi Coin may continue to decline. The current price structure is bearish, with lower highs at $0.91, $0.83, $0.71, and $0.66. The descending trendline has rejected each attempt at recovery, and unless the price breaks above this resistance with conviction, downside targets may remain in focus.

The 4-hour chart shows a well-formed bearish trend, with the price consistently making lower highs and each bounce triggering sell-offs at resistance. The recent rejection at $0.66 followed a pattern similar to previous failed rallies. Candle formations remain bearish, with minimal bullish reaction at current support. If $0.48 support level breaks, the token may face further declines toward $0.43 or even $0.355 in extended bearish scenarios.

Technical indicators on the hourly timeframe show strong bearish momentum. The Relative Strength Index (RSI) is near oversold territory with weak buying pressure. The Moving Average Convergence Divergence (MACD) indicates a bearish crossover with no reversal signals. The Commodity Channel Index (CCI) shows strong downside pressure, close to oversold. The Ultimate Oscillator and Rate of Change (ROC) confirm the downtrend, with the Bull/Bear Power indicator showing that bears remain in control.

In summary, Pi Coin's price remains under clear bearish pressure. Resistance zones continue to cap every rally attempt, and short-term technical indicators align in a downward direction. While the price is holding just above a key support, no reversal signs have formed. Traders are closely monitoring whether $0.48 can hold or if a deeper retracement is imminent.