• Pi Coin gained 1.32% in the last 24 hours amid a bullish market.
• A weekly loss of 2.52% highlights weaker momentum compared to peers.
• Technical indicators highlight sustained bearish signals.
• The $0.34 support level remains critical for the near-term outlook.

Pi Coin posted a 1.32% daily increase, aligning with the broader bullish market trend. Despite positive momentum in the broader crypto market, Pi underperformed peers, slipping 1.91% over the past week.

At the time of writing, the token is trading at $0.3423, supported by a market capitalization of $2.71 billion. Its daily trading volume is $32.95 million, down 31.87% in 24 hours, reflecting subdued activity.

The token continues to hover near $0.3425, stuck in a downtrend since late May. Recovery attempts have struggled to gain traction, with repeated rejections at resistance levels signaling persistent bearish dominance. Buyers have failed to push the price above short-term averages, leaving momentum in favor of sellers.

Also Read: PI Coin’s Bullish Potential: Can It Overcome Resistance and Reach $0.50?

Pi Technical Indicators Reflect Ongoing Bearish Sentiment

Ichimoku readings underline the market’s downward bias. The Tenkan-sen at $0.3522 and the Kijun-sen at $0.3979 are positioned well above current trading levels, pointing to sustained selling pressure. With candles settled below both lines, sentiment remains negative in the short and medium term.

The red Ichimoku Cloud between $0.40 and $0.42 strengthens the bearish case, which suggests further resistance should there be any attempts at upward buying. The fact that the Chikou Span also rests below the price confirms the current downward momentum further.

The first support level rests at $0.34, and any breach could see the way clear for $0.30. For bullish momentum to resume, the token must recapture $0.35 and further breach $0.3979.

RSI and MACD Signal Weak but Fading Downtrend

Momentum indicators confirm the conservative outlook. The RSI comes in at 39.18, below the neutral line of 50, with bearish pressure without oversold conditions. Suggesting sellers are dominant, but without any near-term reversals.

Bearish sentiments are also observed from MACD values, as the signal and MACD lines are below zero. However, the histogram remains almost flat, and this indicates that momentum on the negative side may lose its strength. The token also finished at $0.34284 after swinging between $0.33885 and $0.34426 and displays thin price action.

Overall, the token remains on the edge, and bearish influences are still the ones leading. However, losing momentum may trigger sideways movement, thus preserving the possibilities of a rally if buyers regain key points of resistance.

Also Read: Pi Network Expands to 65 Million Users as Pi Coin Faces Market Pressure