Pi Coin Price Drops 4.62% Amid Bearish Momentum

Pi Coin has been experiencing a tight consolidation range following a failed breakout earlier in the week. Despite the growing social activity around the Pi2Day celebration on June 28 and ongoing speculation about a potential listing on a major exchange, the price action indicates weakening momentum. Key technical indicators continue to point toward a bearish bias.

After reaching a high of $0.66 on June 25, the price of Pi Coin was swiftly rejected and has since settled between $0.52 and $0.54. The lack of follow-through and declining volume suggest limited buying interest at current levels. This price action aligns with the previous outlook, which noted that unless Pi Coin could close above $0.60, the price risked drifting back toward $0.52. This scenario played out as the token failed to reclaim higher ground and instead moved toward the lower end of the short-term consolidation band.

As of June 29, the current price of Pi Coin is $0.5306, with a 24-hour change of -4.62%. The 4-hour RSI (14) stands at 42.70, indicating weak momentum and a bearish lean. The volume remains flat and fading, further supporting the bearish outlook. The price continues to hover just above short-term support near $0.52, failing to break above the $0.56 resistance zone and trading within a narrow channel. This indicates low conviction among buyers, with sellers remaining in control of momentum.

The 4-hour chart reveals a textbook failed rally, with a sharp move to $0.66 followed by immediate rejection. This created a lower high structure, resetting momentum back to a consolidation zone near prior support. No active trendline is supporting the current move, and the price structure resembles a potential bear flag. Short-bodied candles reflect indecision, while rejection wicks confirm active selling pressure at each attempt to climb. Until Pi Coin reclaims $0.56 on convincing volume, any rallies are likely to be short-lived. Breakdown risk remains if $0.52 fails to hold.

Technical indicators on the hourly timeframe further support the bearish outlook. The RSI (14) is at 42.708, indicating weak momentum and a bearish lean. The MACD (12,26) shows a bearish crossover with fading strength. The CCI (14) is at -55.401, indicating mild bearish pressure. The Ultimate Oscillator is at 46.741, showing no momentum shift but a bearish edge. The ROC is at -0.026, indicating that the price is slipping slowly. The Bull/Bear Power (13) is at -0.0056, with bears slightly dominant. All key hourly indicators remain in “Sell” territory, with no clear bullish divergence present and momentum continuing to fade.

Looking ahead, the bullish scenario for Pi Coin involves a price return to $0.56, holding the breakout, and testing $0.60, potentially retesting the $0.63–$0.66 area. However, this setup is not active yet. The neutral scenario sees Pi Coin continuing to consolidate between $0.52 and $0.54 if volume stays low and no external catalysts appear. The bearish scenario involves a breakdown below $0.52, which could trigger a move toward the $0.47–$0.49 support zone. Failure there would expose the $0.45 level and below.

In summary, Pi Coin price remains under pressure after failing to hold its recent rally. With technicals being bearish and price stuck below large resistance, the path of least resistance remains sideways to down. Unless news of the rumored listing on a major exchange filters in or volume returns, the likeliest destiny is continued consolidation in the $0.52–$0.54 range. Traders will anxiously wait for a breach in either direction to initiate the next directional thrust.