Pi Coin (PI) Price Prediction: PI/USD May Fall Through the $1.43 Support Soon

Pi Coin has faced a tumultuous period following its mainnet launch last week. After the launch, the altcoin suffered a massive crash, losing 99% of its value in just four days

Pi Coin has had a turbulent ride following its mainnet launch last week. The altcoin suffered a massive crash after the launch, losing 99% of its value in just four days.

After the launch, Pi Coin experienced a drastic decline, with its value plummeting by 99% in just four days. This rapid depreciation left the altcoin trading at $0.0002 by the end of the week.

However, over the weekend, Pi Coin managed to recover some of its losses, rising by 116% to reach a price of $1.56 at the time of writing. Despite this brief recovery, the altcoin still faces significant challenges in regaining lost ground.

According to the Chaikin Money Flow (CMF) indicator, there have been drastic shifts in market sentiment towards Pi Coin over the past week. Following the mainnet launch, investors sold heavily, causing the CMF to drop, indicating strong selling pressure.

However, others took advantage of the low prices, leading to a spike in inflows, which is depicted by the sharp increase in the indicator. A bullish confirmation on the indicator occurs when the CMF crosses the zero line, indicating sustained positive momentum and investor confidence in Pi Coin’s recovery.

Pi Coin’s recovery is still in its early stages, with the market sentiment showing mixed signals. The volume of inflows indicates some investors believe in the altcoin’s potential, but the indicator's failure to consistently stay above the zero line suggests that the bullish momentum is not yet fully established.

Pi Coin will need to see consistent buying pressure for the price to build momentum and for investor confidence to stabilize.

Pi Coin is also facing strong macro headwinds in the form of a bearish crossover. The Moving Average Convergence Divergence (MACD) has been observing a bearish crossover over the past 36 hours, which typically signals that further downward price action is likely.

The market is under pressure, and Pi Coin’s price action reflects these broader trends. However, if the gradual recovery remains persistent and Pi Coin manages to generate a stronger interest among investors to boost the inflows, the altcoin could witness a bullish crossover. This would signal potential recovery ahead, confirmed by the bars on the histogram crossing above the neutral line.

At the time of writing, Pi Coin is trading at $1.56 after a 116% bounce over the weekend. Despite this brief recovery, the prevailing bearish signals point to the possibility of further decline.

While the altcoin did chart an all-time high (ATH) of $1.72, it is closer to the support of $1.43. Given the current market outlook and the technical indicators, it is likely to fall through this support soon and slip towards the support of $1.19. If not, the altcoin could continue to consolidate under $1.72, facing persistent downward pressure from both the bearish crossover and broader market negativity.

For Pi Coin to actually break out, it would need stronger support from the investors, a breach of the $1.72 barrier, a move to $2.00 and higher, and continued formation of new ATHs. This would be a significant turnaround and invalidate the current bearish outlook.