Pi Coin price performed better than most major currencies until November, but the chart is currently showing a mix of strength and early warning signs. November is Pi’s calmest month since the summer, and it’s only the third time this year that the token is still about to turn green.
The question now is whether this momentum can survive December and even be better than November, or whether a larger downtrend will regain control.
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History and negative correlation with Bitcoin
Since Pi Coin is still young, its price history is short but tells a clear story. Most of 2025 was red. February and May are the only months that have green months printed on them. November is about to join that list.
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What stands out is the negative monthly correlation between PI and Bitcoin, currently around -0.24. When Bitcoin falls, Pi often stays even stronger or rises. Pi has found support as Bitcoin has been falling since October.
Pi has fallen by only about 2.6% in the last month, while Bitcoin has fallen even more significantly. Almost 19%.
Weekly performance also reflects this. Pi is still up around 2.7% over the past 7 days, making it one of the more stable coins even in a weak market. However, some signals on the 3-day chart suggest that December could be more difficult than November.
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Hidden bearish divergence emerges as big money weakens
Pi Coin’s broader structure remains inside a converging descending wedge, which is typically a bullish pattern. PI price is now approaching the upper trendline of that wedge. A breakout from here would normally look positive. However, two indicators point to early weakness.
The first is the RSI divergence on the 3-day chart. RSI (Relative Strength Index) measures momentum. From October 25th to November 24th, Pi Coin recorded lower highs, while RSI recorded higher highs. This is a hidden bearish divergence. This usually means that even though the price appears to be stabilizing, the underlying downtrend is still strong.
The second is CMF (Chaikin Money Flow), which tracks whether large amounts of money enter and leave the market. CMF is still in negative territory on the 3-day chart and is currently sliding towards the uptrend line.
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The last time the CMF revisited this trendline was in early October, when Pi fell by more than 42%.
Combined, both signals mean that PI’s November strength may not be fully reflected in December unless capital returns and CMF avoids bankruptcy.
Pi coin price levels to watch in December
The chart shows a simple illustration. PI price needs to break above $0.28 to gain momentum. That level matches the upper limit of the wedge.
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A clean close above $0.28 could send it up to $0.36, and further improvement to $0.46 is possible. However, indicators suggest that is unlikely unless CMF improves.
On the downside, $0.21 and $0.20 are the first levels to watch. A decline below $0.20 exposes the $0.18 zone. If Bitcoin suddenly turns bullish, a negative correlation in PI could result in short-term performance degradation. This could push the price of Pi Coin down towards a lower wedge band.
The most important line for December is $0.20. Maintaining that level maintains long-term structure. If you lose it, $0.18 and possibly $0.15 will be back in your sights.
Pi Coin still has a chance to end the year better than expected. However, it depends entirely on whether CMF stabilizes and whether the falling wedge can eventually push the price above $0.28.
Even if Bitcoin weakens and negative correlation makes Picoin more desirable to big money, there is still hope.
