Pi Coin Price Recovery Could Signal a New Low as Bearish Patterns Emerge

Pi Coin rose 11% recently, but analysts caution that the price action suggests a bearish pattern rather than a true recovery. The current rebound forms an inverted cup-and-handle structure, historically associated with continued price declines. Retail traders are showing increased buying interest, but larger investors are offloading their holdings, creating a divergence that increases the risk of further losses.

The price remains below the 50-day exponential moving average at $0.1758, with key support now at $0.1533. A break below this level could send Pi Network toward its all-time low of $0.1300. Technical indicators, including the RSI and MACD, also reflect bearish momentum with weak buying pressure.

Upcoming token unlocks pose an additional challenge. Over the next 30 days, 173.12 million Pi tokens will become available, increasing supply and potentially adding downward pressure on the price. The price currently stands at $0.1629, below key resistance levels at $0.1682 and $0.1698. Without a rebound above these levels, the bearish trend is likely to continue.

Why the Price Action Suggests a New Low

The inverted cup-and-handle pattern seen in Pi Coin's price movement is often a precursor to a breakdown rather than a breakout. Retail buying appears to be pushing the price up temporarily, but institutional selling continues to weigh on the asset. The On-Balance Volume and Money Flow Index suggest that the price remains weak despite the increase in buying pressure.

The Chaikin Money Flow (CMF) further supports this bearish bias, showing ongoing capital outflows. If the price falls below $0.161, it could signal the continuation of the downtrend and a potential new low. A rebound above $0.173 or $0.193 would be needed to weaken or invalidate the bearish pattern.

What Analysts Are Watching

Analysts are closely monitoring the 50-day EMA and the key support level at $0.1533. A break below this level would likely accelerate the decline toward $0.1300. Meanwhile, the RSI and MACD remain in bearish territory, indicating that the current rebound lacks the strength to reverse the overall trend.

The upcoming token unlock of 173.12 million Pi is another critical factor to track. This event could increase selling pressure and further challenge the asset's price. Traders are also watching liquidity shifts to determine whether the price can reclaim key resistance levels.

Investors should keep an eye on both technical indicators and market sentiment. Without a sustained move above $0.1698, the bearish outlook remains intact. The mainnet migration and wallet outflows have already contributed to selling pressure, and further downward movement is possible if key levels are breached.