Pi Coin is struggling to regain momentum after several days of stagnant price action. The token has failed to record meaningful growth as investor support remains weak and overall market sentiment remains bearish.
Despite attempts at stabilization, Pi Coin continues to face pressure from declining participation and unfavorable technical indicators.
Pi Coin holder is not fully functional
The lack of investor engagement is becoming increasingly evident on-chain. Data from the top 100 transactions over the past 24 hours shows that just over 9 million PIs moved across the network. The value of this activity is less than $2.45 million, highlighting the minimal trading volume supporting the asset.
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Of these, the largest transactions involved PIs of less than $319,000, revealing limited interest from large holders. Such low value movements indicate that investors are not actively contributing to liquidity and momentum.
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Pi Coin’s broader outlook is further challenged by bearish macro indicators. The Squeeze Momentum indicator is marked by a red bar extending, indicating a squeeze formation. This pattern reflects the strength of bearish pressure and suggests that market sentiment may deteriorate further before finding relief.
Once the tightening is finally lifted, Pi Coin may face increased volatility. Given the current downtrend, this volatility could cause an even sharper price decline. The continued accumulation of bearish energy suggests that Pi Coin may struggle to maintain its current range.
PI price continues to be consolidated
Pi Coin is trading at $0.227 at the time of writing and continues to fluctuate between $0.234 and $0.217. The token lacks the strength needed to break above the $0.234 resistance level, reflecting the impact of investor apathy and weak market conditions.
Considering the above indicators, Pi Coin is likely to remain range bound. If the pressure increases, the price could fall below $0.217, extending the continued decline and weakening recovery prospects. Barring a change in sentiment, consolidation may continue.
However, Pi Coin could regain upward momentum if investors step in to support the asset. A break above the $0.234 resistance will open the way to $0.246. This would invalidate the current bearish narrative and provide the first signs of stabilization.
