Despite massive hype during its launch, the Pi Coin now appears to be losing steam. The lack of clear trading, miner frustration, and increasing project doubts are undermining its credibility. Analysts suggest a return to previous highs is now highly unlikely.
The Chaikin Money Flow (CMF), a key indicator for measuring capital flows, displays a particularly bearish signal. Over the past 24 hours, Pi Coin ‘s CMF has registered a sharp drop. It has reached its lowest level in nearly two months. This rapid deterioration demonstrates significant capital outflows. It suggests that traders have prioritized quick profit-taking rather than holding positions to maximize gains.
This behavior is typical of a market where confidence remains fragile. PI holders have apparently seized the opportunity offered by the 32% rise to liquidate their holdings. They’re generating massive outflows. When the CMF plunges in this manner, it generally signals a growing bearish sentiment and active distribution by early adopters or large holders.
This dynamic poses a major problem for any recovery attempt in the short term. Without a significant return of convinced buyers, Pi Coin risks seeing its price action stagnate or worse, enter a deeper correction. The CMF remains one of the best indicators for anticipating capital movements, and its current signal doesn’t inspire optimism.
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Paradoxically, Pi Coin’s Relative Strength Index (RSI) tells a different story. This momentum oscillator has jumped sharply over the last 24 hours. It moved from clearly bearish territory below 50 points to a positive zone above this psychological threshold. This upward crossover typically suggests a resurgence of bullish strength and opens the door to potential additional short-term gains.
However, this divergence between the RSI and the CMF creates an ambiguous technical situation. On one hand, the improvement in RSI indicates that price momentum has indeed strengthened. On the other, the massive capital outflows revealed by the CMF show that investors don’t trust this rally. This contradiction is often the sign of a fragile technical rally, likely to collapse if selling pressure persists.
For traders, this configuration requires increased vigilance. If sales continue despite the improved RSI, Pi Coin could remain stuck in a consolidation range, unable to capitalize on its technical momentum. The battle between contradictory indicator signals will likely define the token’s trajectory in the coming days.
At the time of writing, Pi Coin is trading at $0.229, a level that coincides precisely with its major critical support. This price zone represents a crucial inflection point. Indeed, it either serves as a springboard for a confirmed rebound, or it gives way under pressure. This would open the path to a more pronounced correction.
If the support at $0.229 holds and buyers return with conviction, Pi Coin could target resistance at $0.256, or even beyond. Such a scenario would validate the recovery attempt and suggest that the market has absorbed the recent profit-taking. However, this bullish scenario requires a significant return of buying volume and stabilization of outflows.
Conversely, a bearish break of support at $0.229 would send the price toward $0.209, with the risk of retesting the $0.198 level. This configuration would completely invalidate the rebound perspective and confirm a continuation of the short-term bearish trend. Traders are watching these levels closely, as they will determine whether the 32% pump was merely a dead cat bounce or the beginning of a genuine recovery.
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