- Pi Coin trades above $0.50 after dipping to $0.47, with $0.48 acting as key support and $0.60 as major resistance.
- RSI at 40.85 and a near MACD crossover suggest weakening bearish momentum and a possible trend reversal.
- Despite ecosystem growth and 13M active users, Pi Coin remains 35% down monthly amid broader market tension.
The price of Pi Coin has had sharp declines in recent weeks, raising concern among users and investors. On June 23, Pi briefly dropped to $0.47 before recovering slightly above $0.50, a key support level.
This movement occurred as the broader crypto market also faced downturns. Bitcoin, Ethereum, and Solana all saw declines during the same period, reportedly due to increasing tensions between the U.S. and Iran.
According to Pi Network founder Dr. Nicolas Kokkalis, the price drop shows market-wide stress rather than project-specific issues. He addressed the community, noting that Pi is in its enclosed mainnet phase with over 50 million users and real apps actively building.
Technical Indicators Point to Weakening Bearish Momentum
Despite recent price drops, some indicators suggest weakening bearish pressure on Pi Coin. At the time of writing, PI was trading at $0.5087, with a daily low of $0.5020 and a high of $0.5121. Trading volume reached 3.81 million, suggesting increased market activity.
The RSI, at 40.85, has bounced back from oversold levels near 30. This indicates softening selling pressure, though not enough to confirm bullish strength. Meanwhile, the MACD line is at -0.0143 and appears to be crossing above the signal line at -0.0140. Although still in bearish level, the narrowing histogram at -0.0003 implies potential trend reversal.
Recent Highs Fail to Boost Market Price
Pi Network has had several developments following the launch of its Open Mainnet 100 days ago. More than 3 million users have joined during this period, raising the active user base to over 13 million.
In addition, the network now has more than 400,000 live nodes supporting its decentralization goals. Pi Ventures, a $100 million fund for startups, and the Fruity Pi game were also introduced recently.
Furthermore, PiFest 2025 attracted over 1.2 million sellers, indicating commercial activity within the Pi ecosystem. However, despite these milestones, the coin dropped by nearly 35% over the past month.
Support and Resistance Levels Define Price Action
From early June, Pi Coin declined from $0.85 to near $0.48 before showing signs of mild recovery. Technical indicators identify $0.48 as a key support zone, while $0.60 remains a strong resistance point.
The price must stay above $0.50 to avoid further downside pressure. Analysts note that if RSI continues upward and MACD confirms a crossover, a short-term rally could occur. However, if the $0.50 level breaks, further losses could follow.
On the upside, Pi Coin could rise above $0.5150 and aim for targets between $0.5450 and $0.5800. However, the digital asset may fall below $0.50 and retest lower levels at $0.4750 or even $0.4500.
Overall, while Pi Network has made notable progress in expanding its user base and ecosystem, its market performance is under pressure. Technical data shows early signs of possible recovery, but the coin must maintain key support levels to avoid further declines.
