Pi Coin Faces Mounting Bearish Pressure as Price Struggles to Hold Above Key Support

Pi Coin (PI) is stuck in a prolonged phase of sideways trading, signaling growing weakness and investor uncertainty. Over the past two weeks, the cryptocurrency has shown little momentum, with its price stagnating and sentiment turning increasingly bearish. This lack of progress, coupled with limited support from the broader crypto market, is raising concerns about a potential breakdown in Pi Coin’s value.

Investor confidence in Pi Coin appears to be eroding. Weighted sentiment, a metric that gauges overall investor mood, has plunged deep into negative territory, reflecting widespread pessimism. Such bearish sentiment often translates to increased selling pressure, as wary investors begin offloading their holdings. This behavior only amplifies the coin’s fragile technical outlook, putting further strain on its stability.

From a technical standpoint, Pi Coin’s momentum remains weak. The Relative Strength Index (RSI), a key measure of market momentum, is firmly in bearish territory and has entered oversold levels multiple times. Normally, an oversold RSI might hint at a possible rebound, but Pi Coin’s lack of follow-through suggests that demand remains minimal, even at lower prices. This indicates deep-rooted weakness in the asset’s macro structure.

Currently trading around $0.203, Pi Coin continues to hold just above the critical $0.200 support zone. This level has provided short-term stability, but sustained bearish sentiment could drive prices lower. A decisive drop below $0.200 might push Pi Coin toward the next support at $0.180, nearing its all-time low of $0.153—an outcome that could further dampen long-term investor confidence.

Conversely, if Pi Coin manages to rebound and break through resistance at $0.229, it could invalidate the bearish outlook and trigger a short-term recovery. However, until positive sentiment returns and trading volumes improve, the altcoin’s outlook remains cautiously bearish.