Pi Coin (PIUSDT) Shows Bearish Flag Pattern on the 1-hour Chart

On May 23, 2025, Pi Coin (PIUSDT) shows a bearish flag pattern on the 1-hour chart.

On May 23, 2025, Pi Coin (PIUSDT) showed a bearish flag pattern on the 1-hour chart.

This technical setup often signals continuation to the downside.

A bearish flag pattern forms when a sharp price drop, called the flagpole, is followed by a brief upward consolidation inside parallel trendlines, resembling a flag.

The chart confirmed this structure after a steep fall on May 16. Since then, price has climbed in a narrow ascending channel, marked by two red trendlines.

At the same time, the 50-period Exponential Moving Average (EMA) now sits above the price at $0.8114, acting as resistance.

Meanwhile, the Relative Strength Index (RSI) reads 41.57, showing weakening buying strength.

If the bearish flag confirms with a breakdown below the lower red trendline, PIUSDT could drop 28% from its current level of $0.8079. That places the downside target at approximately $0.5814, which aligns with the previous low shown on the chart.

Pi Coin DMI Shows Bullish Momentum as Sellers Retreat

On May 21, Pi Coin’s Directional Movement Index (DMI) signals suggest that trend strength is increasing.

The Average Directional Index (ADX), which tracks trend momentum, rose from 12.46 to 16.60 within a day. This level of ADX movement is significant and signals that the trend is more likely to continue.

ADX readings above 20 are often considered more reliable by analysts in determining if the price trend is strong.

At the same time, the Positive Directional Indicator (+DI), which reflects bullish strength, climbed to 25.98. It moved up from 20.14 yesterday but cooled slightly from earlier today’s high of 29.15.

Meanwhile, the Negative Directional Indicator (−DI), which measures bearish pressure, dropped to 14.45 from 20.84.

This widening gap between +DI and −DI indicates that bulls are gaining ground while sellers are losing momentum.

If ADX continues climbing past 20, Pi Coin could enter a stronger uptrend supported by increased buying pressure.

Chaikin Money Flow Turns Negative After Failing to Hold Breakout

On May 21, Pi Coin’s Chaikin Money Flow (CMF) dropped to -0.03 after briefly rising above zero.

The Chaikin Money Flow is a volume-weighted oscillator that tracks capital inflows and outflows to indicate market sentiment. Values above zero reflect buying pressure, while values below zero show selling pressure.

Two days earlier, CMF stood at -0.17. It climbed to +0.9 on May 20, showing short-lived accumulation. However, the current dip back below the zero line signals that buyers have not yet taken control.

Although the drop is minor, it reflects a lack of strength in sustaining bullish momentum.

For sustained upside, the CMF must return to positive territory and remain there. Until then, this near-zero reading suggests indecision and fading buyer strength after the latest rally.

Vietnam Dominates Pi Network’s Node Infrastructure

As of May 22, 2025, Vietnam hosts 154 out of Pi Network’s 319 global nodes, according to Piscan. This number represents 48.2% of the total nodes.

At the same time, 33 of the 76 connected nodes also operate from Vietnam.

The network only has two validator nodes, both controlled by the Pi Network core team. This setup raises concerns over centralization, fairness, and long-term network resilience.

Vietnam’s legal stance complicates the issue further. Local laws do not recognize Pi Coin as a legal payment method. Users could face fines ranging from 50 million to 100 million Vietnamese dong or criminal charges under Decree 88/2019 and Decree 143/21. In 2023, Vietnamese authorities also launched an investigation into Pi Network’s operations.

Core Team Controls Over 60% of Pi Supply

According to Piscan, the Pi Foundation currently holds over 60.7 billion Pi coins out of the 100 billion total supply. This level of control contradicts the decentralized image the project promotes.

The Vietnamese Ministry of Finance has also proposed restricting cryptocurrency custody to licensed institutions, a move that could limit local miner activity and further affect Pi Network’s infrastructure.

Community concerns continue to grow. A recent Reddit post stated that as long as the team holds a large share of the supply, decentralization remains out of reach.

Alleged Insider Dumping and User Losses Trigger Fresh Criticism of Pi Network

A new investigation by crypto analyst Atlas has intensified concerns over Pi Network’s transparency