Key Insights:
- Pi Coin price dropped over 20% from the monthly high near $0.205 following the Feb. 20 Open Network anniversary celebration.
- On-Balance Volume has been falling since Feb. 15, while the Money Flow Index stayed flat, showing no institutional buying support.
- Break below the $0.15 neckline, targeting $0.13 first, then $0.10, potentially creating a new all-time low for PI price.
Pi Coin price fell hard after the Feb. 20 Open Network anniversary celebration. The token hit a monthly high near $0.205 last week before reversing sharply. The timing looks bad.
The Pi Network team posted about 16 million verified users, 300+ network apps, and ecosystem growth. Its community’s response was criticism, not celebration. Price followed sentiment lower.
Technical charts show problems building since December. An inverse pattern developed over months, pointing down, not up. The critical level sits at $0.15. Break below that, and things get ugly fast with a potential 30% more downside.
Inverse Pattern Forms While Anniversary Hype Fades
Pi Coin price has been forming a bearish setup since Dec. 19. The pattern resembles an upside-down cup with a handle. Regular cup and handle patterns are bullish, signaling upside breakouts. Inverse versions flip that, predicting downside breaks instead.
The pattern has a neckline sloping down, currently sitting around $0.15. That’s the trigger level. Hold above it, and maybe things will stabilize. A break below the measured move points to serious losses.
The handle portion represents the recent consolidation phase. Pi coin price chopped sideways near $0.17 to $0.20 through early February. Some traders probably thought that the range would break higher, especially heading into the anniversary milestone.
Feb. 20 marked one full year since the Open Network launch. The team highlighted progress, including over 16 million KYC-verified Pioneers and ongoing mainnet migrations. Developer activity supposedly increased.
The community didn’t buy it. Responses on social platforms ripped into the post. Users complained about migration delays, limited real utility, and the massive price crash from the $2.99 all-time high. That’s a 94% to 95% drop.
The anniversary became a reminder of losses, not gains. Price responded accordingly, selling off 20%-plus from the monthly high. The inverse pattern now looks more likely to complete downward rather than fail.
On-Balance Volume and Money Flow Show No Buying Support
On-Balance Volume tracks cumulative buying and selling pressure by adding volume on up days and subtracting volume on down days. Pi crypto’s OBV has been dropping since Feb. 15. That’s five days before the anniversary and continuing through now.
Pi coin price tried to rally a few times in that period. OBV kept falling. That divergence shows weak conviction. Volume doesn’t support the price attempts. Buyers aren’t showing up with intent.
The Money Flow Index measures buying and selling pressure differently. It uses both price and volume to calculate momentum. Pi Coin’s MFI stayed relatively flat through February. It has been tagged lower since the 15th but hasn’t shown any surge that would indicate deep pockets accumulating.
An MFI above 80 signals overbought. Under 20 signals “oversold” with potential buying opportunities. Pi Coin’s MFI is in the neutral to higher range. No extreme readings either way. Just dead money with no big money interest stepping in
The combination is critical. OBV dropping shows distribution. MFI flat shows no counter buying. When price falls on rising volume, that’s a healthy correction. Weak hands shake out. Strong hands accumulate.
When price falls on weak volume with no buying interest, that’s different. Nobody wants to catch this knife.
Break Below $0.15 Targets New Lows for Pi Coin Price
The $0.15 neckline decides everything. The current Pi coin price, around $0.16, sits just above that trigger. A daily close below $0.15 would activate the inverse pattern’s measured move. The first target comes at $0.13. That’s roughly 13% additional downside from $0.15.
If selling continues through that level, the next support sits way down at $0.10. That would create a new all-time low below the previous bottom. A 30% total drop from current levels isn’t unrealistic if the pattern plays out fully.
Reversing this setup requires breaking back above $0.20. That level represents the high end of recent consolidation.
Getting there means erasing the anniversary selloff and reclaiming bullish structure. Pi Coin price would need to prove buyers are willing to step in with size. Volume would need to pick up on upside moves, not downside. OBV would need to start climbing to confirm accumulation. MFI would need to push toward overbought, showing momentum building.