Pi Coin Faces Important Weeks as Technical Indicators Flash Red

As summer begins, Pi Coin is struggling to find bullish momentum. After peaking near $3 in February, the price has fallen over 75% and is currently hovering around $0.69. According to Dey There, investor sentiment is becoming increasingly cautious amid bearish technical signals, large-scale token unlocks, and increased cash flow into exchanges. Stuck in a Bearish Channel Pi Coin has been stuck between $0.688 and $0.816 in recent weeks. All major short-term moving averages are currently above the current price—a clear sign that the bears are still in control. The Bollinger Bands are tightening, the MACD is still in negative territory, and the RSI is fluctuating around a neutral level of 43. These indicators together suggest limited bullish momentum in the short term. Despite the unstable trading pattern, the 24-hour trading volume has surged by 42% to $158 million, indicating an increase in the movement of Pi tokens on exchanges. This signals potential selling pressure. Support levels at $0.60 and $0.50 are currently very important, while any move towards recovery must overcome strong resistance in the range of $0.75–$0.78. Short-Term Outlook and Market Sentiment Analysts predict that Pi Coin will fluctuate between $0.70 and $0.76 until the end of May. A potential test at $0.85 may occur if buyers show renewed interest, but this requires sustained volume. Despite the recent announcement by the Pi Core Team regarding a $100 million development fund aimed at promoting real-world adoption, many investors remain unconvinced due to a perceived lack of a clear roadmap. However, the existing concern remains the token unlock schedule. In June alone, 263 million Pi tokens will be put into circulation, followed by 233 million in July and 132 million in August. In a market that already has low demand, these numbers significantly increase the risk of bearish pressure.

Increasing Pressure from Unlocking and Transferring On-chain data shows a strong increase in money transfer transactions from wallets to exchanges over the past two weeks, further reinforcing concerns about an upcoming sell-off. With many miners looking to sell early, the price of Pi could slide into the range of $0.58–$0.65. That said, not everything is bleak. Analysts at CoinDCX believe that a sudden surge in demand could trigger a rapid bullish move towards the $1.00–$1.20 range. With strong momentum, they set a bullish target of $1.82 by the end of the month. However, others like Dr. Altcoin have warned that the ongoing lack of transparency could pull Pi down to $0.40. The biggest question from the community remains: When will the core team of Pi Network release meaningful progress reports? Until that happens, market developments may be dominated by weak technical factors and the weight of large token unlocks.