Pi Coin Surges 8% Breaking Short-Term Downtrend

Pi Coin experienced a significant surge on June 26, breaking above its short-term moving average and closing at $0.6210. This move marks a shift from a prolonged downtrend that had kept the token below key support levels throughout most of June. The price action suggests a potential change in momentum, although nearby resistance zones remain intact. Pi Coin is now trading within a new short-term range, with bulls and bears testing strength near $0.60–$0.67.

Yesterday's prediction highlighted that a close above $0.57 with decent volume could trigger a move toward $0.62. Pi Coin followed this path precisely, breaking past the $0.57 level and reaching $0.6210 before encountering resistance. Additionally, the 9-day SMA at $0.543 acted as a key support zone, which Pi Coin not only reclaimed but closed well above, giving bulls short-term control. The reaction has aligned with the bullish scenario outlined, indicating a potential trend shift.

Pi Coin's daily overview for June 26 shows a strong green candle, clearing the 9-day SMA for the first time since early June. However, the wick rejection near $0.6667 suggests that sellers are still active around resistance. Pi Coin is currently forming a short-term consolidation channel between $0.60 and $0.67. A breakout above the upper level could set up the next leg of the move.

The Pi Coin chart from mid-May to June showed a clear downtrend with lower highs and extended selling pressure. The breakout above the moving average introduces a possible trend shift, but one candle alone does not confirm a reversal. Support now lies near $0.60–$0.61, while resistance remains around $0.67–$0.70, where Pi Coin price was rejected during today’s session. A move above $0.70 with volume would confirm short-term bullish continuation. If there’s no follow-through soon, this bounce might just fade out and turn into more sideways chop.

Technical indicators on the daily timeframe reflect a bullish bias, though the strength is still early and fragile. The RSI (14) at 58.575 indicates building momentum, bullish above 50. The MACD (12,26) at 0.02 shows a bullish crossover, suggesting an early trend shift. The CCI (14) at -10.4842 remains neutral, indicating a stable market. The Ultimate Oscillator at 54.864 shows mild bullish sentiment, while the ROC (Rate of Change) at 3.474 indicates positive momentum. The Bull/Bear Power (13) at 0.008 suggests a slight bull bias.

In the bullish scenario, if Pi Coin manages to break above $0.67 with solid volume behind it, it could push up toward $0.70 or even higher. In the neutral scenario, if Pi Coin price keeps trading between $0.60 and $0.67, it will likely stay in a sideways range for a while, at least until volume picks up. In the bearish scenario, if Pi Coin can’t stay above $0.60, it might slip back down to the $0.50–$0.52 zone, and if that breaks, things could get even rougher.

Pi Coin price posted a notable bounce, but long-term resistance remains overhead. Short-term indicators are starting to look bullish, and the price action hints that Pi Coin might be building a solid base here. However, follow-through is needed to confirm the breakout. For now, the $0.60 to $0.67 range is setting the tone for where Pi Coin heads next.