The Pi Coin price is currently hovering around $0.742, after a brief rebound from the $0.68 bottom. Bulls are currently testing a confluence between moving averages and short term resistance levels. This suggests that the price of Pi Coin will be determined by the next few sessions.
What’s happening with the price of Pi Coin?
After a parabolic rise that took the Pi Coin from $0.30 to $1.60 in under a week, it experienced a sharp retracement. The asset lost over 50% of its gains, and returned to the $0.65-$0.70 zone for accumulation. Buyers have begun to gather near this demand area, as evidenced by the 4-hour candles that formed higher lows in the past 24 hour.
Pi Network price dynamics (Source: TradingView)
Pi is currently capped near $0.78 by the 20-EMA on the 4-hour chart and the lower Bollinger Band. A clean break above the zone could trigger a fresh upward move towards the $0.85-$0.90 region of supply. The short-term trend is fragile until then. Resistance keeps the price spikes of Pi Coin in check.
MACD and RSI flash mixed signals
Pi Network price dynamics (Source: TradingView)
The 30-minute chart shows a slight divergence forming in the RSI. It has dropped from the overbought area of 70+ down to 56 despite the price remaining flat. The MACD histogram is also beginning to contract, which indicates a waning bullish trend. If bulls fail hold above $0.72 we could see a return to $0.70 or even $0.68.
Pi Network price dynamics (Source: TradingView)
On the higher timeframe of the daily chart, a larger descending triangular structure is forming. Pi faces repeated rejections below $80. Price may remain range bound between $0.68 and $0.80 until the upper trendline is broken. This will create choppy Pi Coin volatility in the short-term.
Ichimoku and Chande Momentum Support Caution
Pi Network price dynamics (Source: TradingView)
Ichimoku Clouds perspective on the 30-minute chart shows that Pi remains below Kumo with Tenkan and Kijun now flattening out around $0.74. This indicates sideways consolidation until a breakout or a breakdown occurs. The Chande Momentum Oscillator, at -39.01 shows a declining strength, indicating a lack bullish drive in pushing above the current resistance.
The Pi Coin price update may remain subdued until May 19, unless momentum indicators return to bullish territory.
Key Levels To Watch: Pi Coin Short-Term Forecast
|
Indicator/Zone |
Level |
Implication |
| Immediate resistance | $0.78 | Cap 20-EMA + Lower BB band |
| Breakout Target | $0.85-$0.90 | Supply zone, profit booking likely |
| Support Zone | $0.72-$0.70 | Near-term base needs to hold |
| Critical Demand Area | $0.66-$0.68 | 50% retracement, buyer reload zone |
| MACD / RRS (30-min) | Flat/Neutral | Warning of possible reversal |
| Ichimoku Cloud Status | Bearish Bias | Still trading below Kumo |
Why is the price of Pi Coin going up/down today?
Why is the price of Pi Coin going up/down today?
Pi Network price dynamics (Source: TradingView)
The current recovery is being fueled by dip buying interest near the $0.68 mark, but sentiment remains cautious because overhead resistance levels are still firm. Until there is a decisive move over $0.78, backed by increasing volume, traders can expect further range or pullback movements, which will contribute to the daily Pi Coin price volatility.
Outlook for May 19
Pi (PI), on May 19, is expected to be volatile between $0.70-$0.78 unless there are broader crypto momentums or on-chain catalysts that provide direction. A breakout above $0.78 may extend towards $0.85-$0.90. However, failure to reclaim the area could open up retests on the downside at $0.70 and $0.666.
