After a series of price drops, the Pi Coin is now hovering around $0.4510. This represents a daily decline of 2.13% as sellers continue to press the token below descending support zones. Multiple indicators point to a continuation of the bearish dominance, unless bulls are able to defend the psychological $0.44 level.
What’s happening with the price of Pi Coin?
Over the last week, Pi Coin’s price has been under constant pressure. Each bounce is met with rejection by lower trendlines. On the 4-hour chart PI is trapped within a descending wedge. It trades below the $0.47 – $0.48 resistance band, which previously served as a shelf of support. The latest attempt to retest $0.46 failed, and the price is now drifting toward new weekly lows.
The daily chart in its broader context shows a confirmed Break of Structure (BOS) following the price’s collapse from the $0.60 area in June. Smart Money Concepts’ chart shows that this area has become a major source of supply. The current range, near $0.44, is just above the previous strong low formed late April.
Why is the price of the Pi coin going down today?
Pi Coin’s price is down today due to multiple technical weaknesses on different timeframes. The MACD on 30-minute chart shows a fading crossover to the downside, but the histogram is still negative and indicates a continued downward bias. The RSI is hovering around 39.5, below the neutral 50-line — confirming a weak momentum and limited purchasing conviction.
On the 4-hour timeframe PI consistently trades below the 20, 50 100 and 200 EMAs. These averages continue to act as dynamic resistance, preventing any bullish advance. Bollinger Bands are also expanding downward, indicating a growing volatility, and confirming the intensity in the current downtrend.
The Supertrend indicator has been bearish since $0.4775. It has remained red all of July. The DMI shows a rising -DI (36.52) and an ascending ADX (33.3), which indicate trend strength in the sellers’ favor.
Bearish EMA Cluster with Liquidity Vacuum below $0.44
The daily structure is weak. Pi Coin struggles to defend the $0.44 – $0.45 liquidity zone. The volume profile indicates low interest below current levels. This may increase the likelihood of a rapid breakdown if $0.44 fails.
Smart Money’s perspective shows that PI broke through the last bullish block at $0.496. This left a large zone of inefficiency between $0.48 and $0.52. Liquidity charts now point to the next demand zone near $0.40. This aligns with unfilled inefficiencies since May.
Traders will also notice that the price is still well below the VWAP (on the 30-minute chart), and each retest to the upper VWAP band resulted in a swift rejection, reinforcing a short-term bearish pattern.
Pi Coin Price Forecast: Short-Term Outlook (24h).
Pi Coin must remain above the $0.44-$0.442 level of support in order to avoid a decline towards $0.40. If this base cracks then the next target on the downside could be $0.395, which is where BOS and low volume nodes cluster. Reclaiming $0.465 on the upside would be the first indication of a trend reversal. Further targets are near $0.48 and $0.50.
The short-term outlook is favorable to sellers, as RSI and MACD are both bearish, and Supertrend plus DMI confirms trend continuation.
Pi Coin Forecast Table: July 7, 2020
|
Indicator/Zone |
Level/ Signal |
| Pi Coin price today | $0.4510 |
| Resistance 1 | $0.465 (minor bouncing barrier) |
| Resistance 2 | $0.480 (former structure break zone) |
| Support 1 | $0.442 (key intraday demand) |
| Support 2 | $0.395 (liquidity target) |
| RSI (30 min) | 39.56 (bearish momentum) |
| MACD (30-min). | Histogram with a slight negative inclination |
| Supertrend 4H | Bearish below $0.4775 |
| EMAs (20/50/100/200- 4H) | All above current price, bearish stack |
| Bollinger Bands (4H) | Expanded downward pressure |
| VWAP (30 min) | Price below – acting like resistance |
| DMI (14) | -DI leads with rising ADX (33.3) |
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