The price of Pi coin continues to experience downward movement, reaching a new high of risk! RSI is deeply trapped in the bearish zone, and a rebound requires breaking through $0.51.

Pi coin price continues to experience downward movement, nearing ATL crisis

In the past two months, the price of Pi coin has experienced a continuous fall with no signs of rebound. The current trading price hovers around $0.45, which is dangerously close to its all-time low (ATL) of $0.40. All key indicators show that the price trend of Pi coin is extremely weak, putting its cryptocurrency value at further risk of shrinkage. The current situation of Pi coin is worrisome.

RSI deeply trapped in bearish zone, downward momentum strong

The Relative Strength Index (RSI) is a key indicator that paints a bleak picture for Pi coin. Currently, the indicator is in the bearish zone below the 50 neutral line, clearly showing that downward momentum is dominant. The RSI is neither close to the oversold zone nor near the neutral zone, which indicates that in the short term, it is unlikely to see a price reversal or find signs of bullish momentum recovery. This further confirms that the current downward trend is likely to continue, unless there is a sudden change in market sentiment. Judging by the current RSI position, the price of Pi coin is likely to continue to test the bottom in the coming days.

The Ichimoku cloud pressure is significant, and the macro momentum is bearish

The macro momentum of Pi coin also supports bearish expectations. Another key technical indicator - Ichimoku Cloud - is currently above the K-line price. This formation typically indicates that bearish momentum will continue, further strengthening the downward trend. As shown in the cloud chart, the market structure of Pi coin has weakened, suggesting that this altcoin will face heavier selling pressure in the short term. Investors must remain cautious, as the current market environment suggests that the possibility of Pi coin price hitting an ATL is increasing.

Will the price of Pi coin fall below the ATL? Will Pi coin drop to $0.4?

As of the writing of this article, the trading price of Pi coin is $0.45, and last week's trend has confirmed its ongoing downward movement. The token is only about 11.19% away from falling to the $0.40 ATL, and $0.40 is a key support level that could trigger a deeper fall. Given that all technical indicators point to a sustained downward movement in price, Pi coin is unlikely to escape this downward channel in the short term.

Pi coin support level and potential rebound opportunity

Despite the overall downward movement, Pi coin is currently struggling to maintain above the $0.45 support level. If this cryptocurrency can hold this price level and successfully rebound, the price of Pi coin may slightly rise to around $0.49 or $0.51. However, to reverse the current downward movement, the price must effectively break through the resistance levels mentioned above. Until then, the bearish outlook remains valid. Any successful attempts to break through the $0.50 level may serve as an initial signal for a trend reversal in Pi coin, and investors should closely monitor the competition for key resistance levels of Pi coin.

Gate.io market shows that PI is currently reported at $0.44690, with a 24-hour fall of 2.01%.