Pi Coin is facing renewed pressure after failing to sustain upward momentum, with its price consolidating near a critical resistance point.
At the time of writing, the cryptocurrency is changing hands at $0.383, unable to push through the $0.401 level that has capped multiple breakout attempts.
Sentiment Slumps Despite Market Inflows
Market sentiment around Pi Coin has taken a notable hit, falling to its lowest point in four months. This downturn reflects fading enthusiasm from retail traders who had been expecting stronger gains. Much of the decline in sentiment unfolded within the last 24 hours, as frustration built around the coin’s stagnant price movement.
Still, the broader picture is not entirely negative. On-chain data from Santiment shows that while investor optimism is weak, opportunistic buying continues. The Chaikin Money Flow (CMF) indicator remains above zero, suggesting inflows are outpacing outflows.
This could indicate that some investors see the current weakness as a discounted entry point, positioning themselves for a potential rebound should momentum shift.
Resistance Holds the Key
From a technical standpoint, Pi Coin remains trapped in a downtrend, with $0.401 serving as the immediate hurdle. The inability to secure a daily close above this resistance has left the asset vulnerable to further consolidation. If selling pressure intensifies, traders may look to $0.362 as the next key support. A decisive break below that level could invite deeper losses and strengthen bearish control.
However, the outlook is not entirely bleak. A clean breakout above $0.401 would represent a major shift in market dynamics, flipping the level into support and potentially opening the door toward $0.440. Such a move would not only invalidate the current bearish setup but also restore confidence among traders waiting for confirmation of a trend reversal.
What to Watch Next
For now, Pi Coin’s short-term fate hinges on whether it can attract enough buying pressure to overcome its resistance ceiling. Investors should watch both price action near $0.401 and sentiment shifts across the wider crypto market. A broader recovery in risk appetite could provide the catalyst Pi Coin needs to break out of its consolidation phase and regain bullish momentum.
The information provided in this article is for informational purposes only and does not constitute financial, investment, or trading advice. Coindoo.com does not endorse or recommend any specific investment strategy or cryptocurrency. Always conduct your own research and consult with a licensed financial advisor before making any investment decisions.
Alex is an experienced financial journalist and cryptocurrency enthusiast. With over 8 years of experience covering the crypto, blockchain, and fintech industries, he is well-versed in the complex and ever-evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His approach allows him to break down complex ideas into accessible and in-depth content. Follow his publications to stay up to date with the most important trends and topics.
Source: https://coindoo.com/pi-coin-price-alert-key-levels-could-decide-the-next-big-move/