Pi Coin Price Struggles Amid Weak Investor Support

Pi Coin (PI) is failing to regain momentum and is stuck in consolidation due to severe investor apathy and unfavorable technical signals. The lack of meaningful transactional volume suggests the price is vulnerable to further downside once volatility returns.

I. Key On-Chain Metrics Indicating Weakness

The analysis points to low engagement and strong bearish momentum: Weak Trading Volume: Data from the top 100 transactions in the last 24 hours showed only slightly more than 9 million PI moved across the network, valued at under $2.45 million.Implication: This minimal transactional volume highlights low interest from major holders and limited active participation, which fails to support momentum.Deepening Bearish Pressure: The Squeeze Momentum Indicator is showing a squeeze forming, marked by extending red bars.Implication: This pattern reflects strengthening bearish pressure, suggesting that market sentiment is likely to deteriorate further before finding relief. The subsequent release of the squeeze is expected to trigger heightened volatility, likely resulting in a sharper price drop given the current downward bias.

II. Specific Support Levels and Bearish Price Forecast

The price is trapped in a narrow range, with bearish indicators pointing toward a breakdown: Current Consolidation Range: Pi Coin is currently consolidating between $0.234 (resistance) and $0.217 (support).Bearish Forecast: Given the weak on-chain and technical indicators, Pi Coin is expected to remain rangebound. If pressures intensify due to a release of the bearish squeeze, the price is likely to slip below $0.217.Consequence: A drop below $0.217 would extend the ongoing decline and significantly weaken recovery prospects.Bullish Invalidation (Needed for Recovery): For the bearish thesis to be invalidated, investors must step in to drive a sustained break above the $0.234 resistance level, which would open the path to $0.246.

⚠️ Important Disclaimer

This analysis is for informational and educational purposes only and is derived from public market data and technical analysis. It is not financial advice, nor should it be construed as a recommendation to buy, sell, or hold any security or cryptocurrency. The cryptocurrency market is highly speculative, volatile, and subject to external factors. Readers must conduct their own comprehensive research (DYOR) and consult with a qualified financial advisor before making any investment decisions.