Pi Coin Price Rises 0.29% But Faces Bearish Trend

Pi Coin's price has experienced a slight increase of 0.29% over the past day, but it remains under pressure as it trades just below a key descending trendline. The token has been in a tight range for weeks, with declining momentum and repeated failed breakouts. The market shows signs of fatigue due to the lack of catalysts or major volume shifts.

Currently, Pi Coin is trading around $0.4948, just above near-term support. The overall trend is bearish, and the lack of directional momentum suggests indecision in the market. The daily structure reflects a prolonged downtrend, with a descending trendline from the April high acting as resistance. After a failed breakout near $0.60, the token retraced and settled into a tight band, with small candles and low volume indicating limited conviction from both bulls and bears.

Support near $0.42–$0.45 has held twice, but the inability to retake $0.60 keeps the door open for additional descent. Technical indicators on the daily timeframe are mostly neutral or slightly bearish. The MACD and ROC suggest downside pressure, while Bull Power gives a minor bullish hint. The setup remains indecisive, with no strong signal yet.

In the bullish scenario, a break above $0.60–$0.62 on good volume could pave the way higher towards $0.70. However, no such move is currently in progress. The neutral scenario sees Pi Coin price trading sideways within the range of $0.48 to $0.52, which remains the most likely path unless momentum or news shifts. In the bearish scenario, if the price goes below $0.45, the downside risk increases, with the next support at $0.30, derived from previous April lows.

Overall, Pi Coin price continues to trade below its long-term falling resistance line with no aggressive buying interest or fresh narratives to propel momentum. The best bet for today is additional sideways trading within the $0.48-$0.52 range. A clean break in either direction will help define the next move.