- Pi fell by 27.78% to $1.13 on May 13 but remains up 93.02% weekly, indicating high volatility after a recent price surge.
- RSI at 55.62 shows fading momentum but still supports a bullish bias if volume increases ahead of Pi’s May 14 ecosystem update.
- MACD suggests a bearish shift after a parabolic rally, with support at $1.00 and upside potential toward $1.40 if momentum returns.
Pi Coin (PI) has had increased volatility over the past few days. On May 13th, at the time of writing, Pi dropped by 27.78% to trade at $1.13. However, this steep drop follows a high price surge, with the token still up 93.02% in the past week and 53.54% in the past month.
Pi’s market cap dropped by 26.43% to $8.07 billion, yet 24 hour trading volume rose by 9.61% to $1.67 billion. Supply remains unchanged, with 7.08 billion PI in circulation from a total and max supply of 100 billion PI.
As speculation increases ahead of the Consensus 2025 Summit and Pi’s scheduled update on May 14, attention has turned to whether the recent pullback is a temporary pause or the start of a deeper correction.
Volume Activity and RSI Hint at Mixed Momentum
Trading volume has remained active, with the most recent spike showing 3.37 million PI exchanged. This suggests strong trader activity. However, previous volume spikes are now followed by signs of fading strength, indicating the bullish momentum could be weakening.
The RSI is at 55.62, down from a recent high of 71.58. This pullback from overbought levels may indicate consolidation. However, the RSI staying above 50 keeps the current trend leaning toward the bullish side.
MACD Turns Bearish as Price Pulls Back
The MACD shows a short term shift. The MACD line is at 0.1157, while the signal line is higher at 0.1325, showing a negative histogram of -0.0168. This bearish crossover followed a parabolic rise that began around May 6 and peaked on May 12.
The 4 hour price ranged from a high of $1.1535 to a low of $1.1192, suggesting increased volatility and ongoing selling pressure. Although the broader uptrend remains, technical indicators suggest buyers may be losing short term control.
On the upside, on May 14, If volume rises and RSI holds above 50, PI may retest $1.25–$1.30, potentially reaching $1.40. However, If selling pressure increases, price may fall to $1.05, with support between $0.95 and $1.00.
Ecosystem Progress and External Factors
Ecosystem developments have been important in Pi’s recent movements. On February 20, Pi launched its Open Network, allowing external transactions and listings on exchanges like OKX and Bitget. This shifted Pi’s price mechanism to a market-driven structure.
Between March 14 and 21, Pi hosted its first Open Network PiFest to promote real world use cases. While no official use case confirmations have followed, the network aims to support at least 100 decentralized applications. Developer activity continues with a focus on mobile-first design.
A major ecosystem update is set for May 14, coinciding with the Consensus Summit. Increased wallet activity and PI accumulation on fiat on ramp platform BANXA have been evident.
According to Dr Altcoin, the recent $2 billion daily trading volume shows high market expectations. GEM HUNTER also noted a sharp increase in hype and volume, citing potential for major updates.
