Mixed Signals for PI Coin: Downtrend Deepens While Capital Quietly Returns
Pi Network (PI) enters May under pressure, with technical signals sending conflicting messages.
Momentum indicators suggest bears remain firmly in control, but subtle signs hint that a shift could be brewing beneath the surface.
The ADX, a gauge of trend strength, has surged past 56—indicating a powerful directional move. Unfortunately for bulls, that direction appears to be down, as sellers tighten their grip. The directional index shows declining upward movement and rising downside force, confirming a sharp bearish tilt in recent days.
Still, not all indicators are flashing red. The Chaikin Money Flow just flipped positive for the first time in weeks, signaling a tentative return of buyer interest. Though still modest, this change suggests some capital may be quietly re-entering PI after recent outflows, hinting at early-stage accumulation.
Price structure, however, remains vulnerable. A decisive drop below the $0.547 support zone could accelerate the decline, exposing the token to a potential fall toward $0.40. This level hasn’t been tested in months and could trigger panic selling if reached. The longer PI hovers near support without a bounce, the more likely it is to break.
On the flip side, if bulls can push the price above $0.665, momentum could shift in their favor. A breakout above this resistance might spark renewed interest and attract sidelined buyers, especially if accompanied by higher trading volume. In that case, a move toward the $0.789 region becomes more plausible, setting the stage for a trend reversal. Until then, traders remain cautious, watching for confirmation before making bold moves.
Kosta Gushterov
Reporter at Coindoo
Kosta has been a part of the team since 2021 and has solidified his position with a thirst for knowledge, incredible dedication to his work and a “detective-like” mindset. He not only covers a wide range of trending topics, he also creates reviews, PR articles and educational content. His work has also been referenced by other news outlets.
