Pi Coin Price Prediction: What Happened to the Price in the Last Days and What to Expect

Pi Coin (PI) has been displaying high volatility and shifting momentum over the past few days in the 5-minute chart timeframe. The price experienced a consistent downtrend from April 27 to late April 30, with lower highs and lower lows, finally reaching the $0.56 zone.

Volume remained moderate throughout this period, suggesting a slow but steady distribution phase by sellers. Minor relief rallies also occurred but failed to break resistance levels, indicating bearish control. A sharp sell-off is particularly noticeable around April 29, when the price briefly dipped below $0.54, perhaps indicating a liquidation event or a stop-hunt move before a reversal began forming.

In the early hours of May 1st, a strong bullish breakout occurred, with a rapid surge in price from approximately $0.57 to over $0.64. This breakout was accompanied by a significant spike in volume, which may have been driven by institutional buying or strong retail interest. This V-shaped recovery could be seen as a shift in sentiment from bearish to bullish, at least in the short term.

However, such sharp moves are usually followed by a cooling-off period, and that’s exactly what transpired post-surge, with the price settling into a consolidation range between $0.60 and $0.62. This range-bound behavior typically indicates indecision among traders, with neither bulls nor bears taking full control.

The current price of PI/USDT is $0.6105, sitting in the mid-range of this consolidation zone, and this level appears to be a developing support floor as the price respected this zone multiple times.

The volume profile shows a spike around the time of the surge, with a gradual decline afterward, which is typical in parabolic moves as the initial excitement fades and is followed by a cooling-off. If volume increases again during a retest of the $0.62-$0.64 zone, it could trigger a fresh breakout.

Key Technical Levels:

Support Levels: $0.57, $0.60

Resistance Levels: $0.6250, $0.64

Current Price: $0.6105

The price of Pi Coin could rise if it manages to break above the $0.6250 resistance level with strong volume. This move could pave the way for a retest of the $0.64 resistance level, which is the high of the recent surge.

Alternatively, if the price drops below the $0.60 support level, it could continue to decline towards the $0.57 support level, which is the low of the recent downtrend.

Overall, the short-term trend for Pi Coin is bullish, but the price is likely to remain volatile in the near term. Traders should use appropriate risk management techniques and keep an eye on the key technical levels.