Pi Coin Price Drops 1.41% Amid Bearish Trend

Pi Coin's price has been struggling to gain traction, remaining in a tight range and hovering below a descending trendline. After weeks of decline, it is currently trading around $0.46, with no significant momentum shift in sight. Earlier this month, there was an attempt to move higher, but the rally quickly faded near the $0.50 zone. Since then, the price has shown minimal movement, with small candles, low volume, and technical signals still indicating a bearish trend.

As of July 15, Pi Coin's current price is $0.4602, with a 24-hour change of -1.41%. The 9-day Simple Moving Average (SMA) is at $0.4691, and the volume remains low and quiet. The downtrend, which began in May when Pi briefly hit $1.75, continues to reject upward movements. Without significant buying volume, a recovery seems unlikely.

The Pi Coin chart illustrates a clear story of lower highs, weak bounces, and a strong trendline overhead. On July 11, there was an attempt to break out, but it was met with strong resistance, leaving a long upper wick. Since then, the price has been fading. The $0.50 level is a critical resistance point that needs to be closed above, preferably with volume, to see a real shift in momentum. Meanwhile, the support levels at $0.42–$0.44 are holding but are under pressure.

Key technical indicators on the daily timeframe show a bearish outlook. The Relative Strength Index (RSI) is at 38.33, indicating a bearish trend but not yet oversold. The Moving Average Convergence Divergence (MACD) shows a bearish crossover with no upward momentum. The Commodity Channel Index (CCI) is at -77.50, indicating mild selling pressure and a position below the average. The Stochastic indicator is at 32.46, leaning bearish and stuck near range lows. The Average True Range (ATR) is at 0.0276, showing fading volatility with no significant price movements.

In summary, the chart and indicators do not show any strength. Bears remain in control, and buyers are quiet. The bullish scenario suggests that if Pi breaks above $0.52 with strong volume, it could run up to $0.60. The neutral scenario indicates that as long as the price holds at $0.44, it will likely trade between $0.44 and $0.50 without a clear direction. The bearish scenario warns that if the price breaks below $0.42, it could slide quickly toward $0.30–$0.32, the last major support from April.

Currently, Pi Coin's price appears stuck, trading just below the moving average with light volume and no momentum. The $0.50 level continues to act as a ceiling, and until this changes, the downtrend will persist. It is crucial to monitor the $0.42 level, as a break below this could signal the next leg lower.