Pi Coin Price Faces Sell Pressure Hinting at a Quiet Whale Trap

Key Insights:

• PI coin price stuck near $0.45 while exchange reserves surge
• Short positions dominate as funding rates stay red
• RSI divergence offers a reversal clue, but price must hold above $0.4035

The PI price has barely moved in days, sitting near $0.456 despite rising hype from the Pi Network community. While public sentiment remains bullish, the on-chain and technical data paint a darker picture. With exchange reserves rising and short positions piling up, the setup hints at hidden selling, not strength.

Pi Network Sentiment Remains Hopeful, But Setup Says Otherwise

Public sentiment around the Pi Network remains surprisingly strong, despite mounting pressure on the charts. Some community analysts still call PI a “sleeping giant,” arguing its true value remains hidden.

Crypto analyst @Dr_Picoin noted this week that Pi Network has been “forgotten by many” but isn’t worthless; just misunderstood.

Meanwhile, trader @CRYPTOAD00 warned that selling Pi coin near $0.45 could be a mistake, calling for a $5 price target in the next altseason.

But while the faith remains, the actual trading setup tells a different story. One filled with cautious signals and rising sell-side pressure.

Whale Activity Spikes as Exchange Reserves Surge

One of the clearest red flags is the sharp jump in Pi coin exchange reserves. Over the past two months, reserves have gone up by over 40%. This shows that large holders are moving coins to centralized exchanges, likely preparing to sell.

Inflows have outweighed outflows across most CEXs, suggesting the PI price is facing overhead pressure. When whales load up exchanges, it rarely ends well for bulls.

Funding Rates Stay Negative, Retail Still Shorting

Pi coin continues to see deep negative funding rates on perpetual futures. That means short traders are dominant and paying longs to hold positions.

This imbalance is a classic sign of bearish crowd sentiment. Even after the small rebound to $0.48, retail hasn’t flipped.

Funding rate reflects the cost of long versus short futures. Negative rates mean most traders expect further downside.

If this crowding continues, any sudden move higher could trigger a short squeeze. But for now, shorts are still in control.

Elder Ray Index Favors The Bears

The Elder Ray Index shows a weak but balanced power struggle. Bull Power remains below zero — buyers aren’t leading. But bear power is slowly building.

This tells us that while selling isn’t aggressive, buyers haven’t returned in force. The chart looks frozen. Neither side has full control but bears might just edge the bulls out.

The Elder Ray is a momentum tool that shows who’s dominating. In PI’s case, no one is.

PI Coin Price Still Needs to Clear $0.5152 Before Bulls Take Over

Right now, the PI price trades near $0.456. The key support zone is $0.4035; if that breaks, downside opens fast.

On the upside, resistance stands at $0.4588 and $0.5023. If bulls break above those, the path opens toward $0.60.

But unless these levels are cleared with volume, the Pi coin remains stuck in a sideways trap. Also, if $0.4035 is breached, the bullish trend might get invalidated. You can expect this to happen if exchange reserves keep piling up.

There’s one possible lifeline: a hidden bullish divergence on the RSI. While PI price made lower lows near $0.408, the RSI posted higher lows.

This is a classic divergence setup. It means the PI price is dropping, but momentum is recovering. Often, this signals that bearish pressure is weakening. RSI tracks momentum on a scale of 0 to 100. A rising RSI while the price falls can point to a reversal.