Pi Coin Drops 4.64% Ahead of Pi2Day Amid Market Uncertainty

Pi Coin's price has experienced a notable decline, falling 4.64% to $0.5556 ahead of the anticipated Pi2Day event. This drop comes despite a spike in social dominance, indicating heightened community engagement and market anticipation. The price of Pi Network has also seen a significant decrease, trading at $0.56, as uncertainty looms over a major AI announcement scheduled for Pi2Day. The network's momentum has waned, resulting in a double-digit drop over the last 24 hours. This decline is part of a broader trend in the crypto market, where Pi Coin has wiped off much of its gains, falling to $0.55 amid volatile trading conditions. The rally that initially pushed Pi Coin to $0.65 has since faded, with the price crashing 9% in the last 24 hours, returning to $0.55.

Analysts have warned that increases in supply can exert downward pressure on Pi Coin's value, especially if confidence in the ecosystem remains fragile. The recent price dynamics of Pi Coin show that it broke above the $0.5412 support level but failed to sustain gains beyond $0.6469. A descending trendline from mid-May continues to cap upside attempts, while the price remains below key resistance levels between $0.62 and $0.66. This zone aligns with a rejected order block visible on the 1-day chart, reinforcing short-term bearish sentiment. The current price structure is 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 reasons behind Pi Coin's price decline today can be attributed to 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. The DMI shows the -DI line leading above +DI, 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.

Pi Coin's price decline today can be attributed to several factors, including momentum exhaustion and resistance rejection. The recent price dynamics show that Pi Coin broke above the $0.5412 support level but failed to sustain gains beyond $0.6469. A descending trendline from mid-May continues to cap upside attempts, while the price remains below key resistance levels between $0.62 and $0.66. This zone aligns with a rejected order block visible on the 1-day chart, reinforcing short-term bearish sentiment. The current price structure is 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 reasons behind Pi Coin's price decline today can be attributed to 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. The DMI shows the -DI line leading above +DI, 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.