- Pi Coin hits all-time low at $0.40003 as RSI drops to 41.34, signaling fading buying strength.
- Open interest tops $30M despite 3.45% price drop, hinting at possible bullish divergence.
- Over 6M PI tokens moved off exchanges, suggesting holders may expect future price recovery.
Pi Coin is facing selling pressure as its price slips to a record low of $0.40003, reflecting weakening bullish momentum. Despite bearish signals, rising open interest and significant token withdrawals from exchanges hint at possible investor optimism, setting the stage for a potential rebound if key support levels hold.
Pi Coin Price Drops Below Key Support as Bearish Pressure Builds
According to TradingView, the PI coin chart shows the price struggling to stay above the $0.4040 support level. The price keeps getting rejected near $0.50 and $0.52, showing that sellers are strong at those levels. Lower highs are forming, which suggests that buying strength is fading.
The Relative Strength Index (RSI) is 41.34 which is below the neutral 50 mark. This implies the market is slightly bearish The Moving Average Convergence Divergence (MACD) on the 4-hour chart has become negative, and the MACD line has crossed below the signal line. The histogram indicates early indications of building up selling pressures as well.
Source: TradingVIew
If the price breaks below $0.4040 with strong volume, it could fall toward the $0.3800–$0.3600 range. On the other hand, if it holds support and climbs above $0.4480 with momentum, it may head back toward $0.4800 or even $0.5000. For now, the trend appears neutral to slightly bearish.
Open Interest Rises While Pi Coin Price Struggles to Hold $0.40
Data from Coinanalyze suggests that Pi Coin may be preparing for a bounce despite recent price declines. The open interest has increased above 30 million, and that can be a bullish divergence. This indicates that an increasing number of traders are establishing futures positions and this may in turn be indicative of a price reversal.
Trading volume over the last 24 hours has dropped by 13% to $79 million, showing reduced market activity. However, more than 6 million PI tokens have been moved off centralized exchanges. This could mean that holders are choosing to store their coins, possibly waiting for higher prices before selling, which may reflect a more optimistic outlook.
If the price moves above $0.4480 with strength, it could trigger a short-term rally toward $0.4800. But if the $0.4040 support breaks, Pi Coin may fall toward the $0.36 level in the near future.
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