Pi Coin is under intense selling pressure as it inches closer to its all-time low of $0.40.
The token, now trading at $0.45, has shown little resilience in recent weeks, with technical indicators signaling further downside.
Market sentiment around Pi Coin has remained weak, with the Relative Strength Index (RSI) stuck deep in bearish territory, suggesting that sellers are firmly in control. The lack of any signs of reversal reinforces the risk of continued losses.
Adding to the negative outlook, the Ichimoku Cloud remains positioned above the price action, a classic indication of persistent downward momentum. The current chart structure shows no bullish support, with the altcoin appearing highly vulnerable to further drops.
If Pi Coin slips below the $0.45 mark, a retest of $0.40 could be imminent. Breaking that support might pave the way for a new all-time low. On the flip side, a bounce from current levels could push the price back toward $0.49–$0.51, but any recovery would first need to overcome these resistance points to break the prevailing downtrend.
Alexander Zdravkov
Reporter at Coindoo
Alexander Zdravkov is a person who always looks for the logic behind things. He is fluent in German and has more than 3 years of experience in the crypto space, where he skillfully identifies new trends in the world of digital currencies. Whether providing in-depth analysis or daily reports on all topics, his deep understanding and enthusiasm for what he does make him a valuable member of the team.
Source: https://coindoo.com/pi-coin-nears-record-low-as-bearish-momentum-builds/