Pi Network (PI) Price Prediction: Multiple Trading Breakthrough Failures, Pressured Below Key Downtrend Line

Today (4) in the Asian afternoon session, Pi Network (PI) is still facing strong pressure, falling to $0.4842. The price of Pi Coin has increased by 0.29% over the past day, and it still faces pressure due to the trading price being slightly below the key downward trend line. After several weeks of downward momentum and multiple failed breakouts, the token remains in a narrow range of fluctuations. Due to the lack of catalysts or significant fluctuations in trading volume, the market is showing signs of fatigue.

Pi coin is currently hovering around 0.4948 US dollars, slightly above the recent support level. The overall trend looks bearish, with a lack of directional momentum indicating market indecision.

Pi Coin Daily Overview (July 4)

Current Price: 0.4948 USD

24-hour change: +0.18%

Relative Strength Index (14): 48.49

Trading Volume: Flat and Weak

The price of Pi Token is still below the resistance of the downward trend line that has been in place since the end of April. The price remains in a continuously narrowing consolidation range, with limited momentum, and the subsequent trend is also relatively weak.

PI Price Analysis

According to Captain Altcoin, the daily structure of Pi coin continues to reflect a long-term downtrend. The descending trend line since the April high (around $1.85) has been acting as a resistance level.

After failing to break through the vicinity of 0.60 USD, the Token retraced and stabilized within a narrow range.

The K-line chart is small, and the trading volume is sluggish, indicating that both bulls and bears have limited confidence.

(Source: Trading View)

The support level around 0.42 to 0.45 USD has been defended twice, but it has been unable to reclaim 0.60 USD, leaving room for further fall.

Most technical indicators are neutral or slightly bearish. The MACD and ROC indicators show downward pressure, while the bullish strength index slightly hints at bullishness. The market pattern remains unclear, and no strong signals have yet emerged.

Pi Token Price Prediction Scenario

Bullish Scenario: A breakout from $0.60 to $0.62 with good Trading Volume will pave the way for further pump to $0.70, but such a trend has not yet occurred.

Neutral Scenario: The price of Pi coin is still consolidating between 0.48 USD and 0.52 USD. Unless there is a change in market momentum or news, this is still the most likely trend.

Bearish scenario: If the price falls below 0.45 USD, the downside risk will be greater. The next support level is 0.30 USD, with support coming from the low in April.

Summary

The price of Pi coin continues to trade below its long-term downtrend resistance line, with no active buying interest or new narratives to drive momentum.

In addition to the price breaking through 0.60 USD and the trading volume surpassing that, today's best option is to continue consolidating in the range of 0.48 USD to 0.52 USD. A decisive breakout in either direction will help determine the next trend.