Pi Coin Price Volatility: 32% Surge Followed by Profit-Taking Sparks Bearish Concerns

Pi Coin (PI) experienced a dramatic 32% surge within the past 24 hours, igniting hopes of a lasting bullish rally. However, the excitement quickly faded as many investors capitalized on the brief uptrend to secure profits, triggering renewed selling pressure. Technical indicators now suggest that Pi Coin’s momentum could falter if this wave of selling persists.

The Chaikin Money Flow (CMF) indicator highlights growing concerns, showing a sharp decline to its lowest level in nearly two months. This steep downtick points to significant capital outflows, signaling that traders are exiting positions rather than accumulating. Such strong CMF declines typically reflect bearish sentiment and waning investor confidence. As a result, Pi Coin may face challenges sustaining its upward momentum in the short term.

Interestingly, the Relative Strength Index (RSI) paints a more optimistic picture. The RSI has risen sharply from below 50 into positive territory, indicating renewed buying pressure and the potential for a short-term rebound. Yet, without sustained capital inflows, this bullish momentum could fade quickly, leaving the price range-bound.

Currently, Pi Coin trades around $0.229—just above a crucial support level. Holding this level could open the door for a potential rebound toward $0.256 or higher, signaling renewed strength. However, failure to maintain this support could drag the price down to $0.209 or even $0.198, confirming a bearish continuation.

In essence, while Pi Coin’s RSI hints at recovery potential, increasing outflows and profit-taking suggest caution. Unless buyers re-enter decisively, Pi Coin’s rally could lose steam, keeping its price under pressure in the near term.