Pi coin has failed to regain the $0.50 mark! Latest price prediction: $0.44 support to hold, $0.54 may dip.

Pi Network (PI) failed to return above $0.50 over the weekend, continuing to trade weakly below that level during Monday's (July 7) Asian session. The volume of Pi coin in the last 24 hours was $3.5 billion, with a market capitalization of $61.17 million. The cumulative fall last week was 13.37%.

On the 4-hour chart, the token remains slightly above the lower Bollinger Band at $0.44135, far below the 20-period moving average of $0.47155. This indicates that bearish sentiment persists and overall market momentum is low.

The technical indicators have shown a shift in market sentiment. The RSI is at 36.56, which means the coin is approaching the oversold territory, and this level typically signals a potential reversal upward in the short term.

The MACD line is slightly below the signal line, and the histogram is declining, indicating that a bullish crossover is imminent. These preliminary signals suggest that the distance between buyers and sellers has narrowed, and a reversal in the issuing trend may occur.

The Pi coin weekly chart shows that key price zones are forming. The weekly candlestick pattern displays a clear bearish trend, which began at the resistance level of $0.52. The consecutive bearish candles this week indicate ongoing selling pressure, with only slight signs of a rebound.

The price of Pi coin fluctuates in the range of 0.47 to 0.49 USD, with a brief consolidation in the market, but lacking the momentum for a supportive breakout. A new wave of selling has pushed the price down below 0.46 USD, which is consistent with the global bear market trend.

However, the latest candlestick chart shows that this momentum has weakened. As the red candlesticks around $0.455 are gradually being replaced by green candlesticks, buying interest is re-emerging.

The volume has also risen slightly, indicating that recent momentum may reverse. If the token successfully breaks through the Bollinger Band middle line of 0.47155 USD, it is expected to further rise to 0.50 USD, or even 0.54 USD.

The next price movement of Pi coin depends on the breakthrough confirmation at 0.47155 USD

To confirm a trend reversal, PI must break through the resistance level of $0.47155 and maintain the volume.

At this level and above, the next stop will be the upper Bollinger Band, located at around $0.50. Further increases could bring the price to $0.54, matching the previous highs.

On the downside, a further weakening of the Pi price could bring it back to 0.44 USD, while a deeper retracement may reach the support level of 0.40 USD. As volatility decreases, risk managers should closely monitor any directional breakout in the short term.

(Source: Trading View)