Pi Coin lost its bullish momentum after facing a strong rejection of nearly $0.87 last week. The digital asset has now dropped below $0.80, a critical level that previously acted as short-term support.
Pressure mounted after the price failed to hold above the 20, 50, and 100 EMA clusters on the 4-hour chart, marking the start of the recent decline. Following the break of $0.786 on the downside, it became clear that buyers were weaker and sellers were now stronger. The currency is currently tracking support within the $0.775 to $0.760 range.
The area has just experienced a rally, but buyers seem to be losing interest. Both the EMAs and the Chande Momentum Oscillator indicate that selling pressure is very strong. Bearish trends are observed on the lower timeframe charts, along with Pi’s technical setup.
Source: Tradingview
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On the 30-minute chart, the token has broken below a rising trendline. RSI is close to 29.34, which shows the market is oversold, but the condition is not yet reversing. MACD remains bearish and is growing further apart. From Ichimoku analysis, the price sits below the cloud and shows a downward crossover between the Kijun-Sen and Tenkan-Sen.
Source: Tradingview
$0.76 Support Becomes Bulls’ Last Stand Amid Growing Downside Risk
Furthermore, the Bollinger Bands remain expanded on the 4-hour chart. The current price is testing the lower band at $0.7862. A clean break from this level may expose Pi Coin to further losses toward $0.7650 and possibly $0.7400, areas that align with previous accumulation levels from early May.
Traders are pointing to low buying and selling activity and a lack of continuation as the cause of the sudden pullback. After last week’s rise, not regaining the $0.80 level has led to more people selling or taking profits. The increase in market consolidation, chiefly in Bitcoin, has led to more confusion.
Source: Tradingview
Bulls are now counting on support in the $0.76–$0.78 range as their last line of defense. Moving below this level would increase the risk of a sharp fall. Nonetheless, the short-term mood could reverse if buyers buy up to $0.80 with substantial volume.
Pi Coin is facing difficulties as it reaches important support points after dropping below $0.80. Bears dominate, and losing $0.76 in support might cause the price to fall further.
Also Read: XRP Hits Record Volume—What’s Fueling the Unstoppable Momentum?
