Pi Coin Price Prediction: Examining the Path After $0.1444 Retest

Pi Coin Price Analysis

Pi's price action has exhibited a persistent bearish trend, with downside momentum gaining strength. After consolidating above $0.1444, sellers prompted a significant breakdown, indicating a shift in market dynamics. This decline was characterized by expanding candle bodies and repeated closes near session lows, highlighting aggressive selling pressure.

Resistance and Support Levels

The $0.1444 level has now turned into a resistance point. Continued selling pressure, coupled with a lack of buyer interest, heightens the risk of prices descending towards the $0.1302 support level. If the current selling pattern persists, this support level will be crucial in testing market demand.

Liquidity and Absorption

Currently, Pi's price is nearing the $0.130 liquidity floor. As prices approach this area, liquidity concentration intensifies, potentially slowing rapid declines and testing sellers' resolve. Absorption likelihood increases if bids convert into market buys, often indicated by long lower wicks and stronger closes above $0.130. However, the risk remains if selling volume surpasses the bid wall.

Market weakness or liquidity shifts could expedite a breach of this level. Should prices close below $0.130, they may enter a low-liquidity zone around $0.115, further exposing downside risks towards the historical demand zone at $0.100.

Broader Market Context

The broader market's weakness has influenced Pi's price movement, with the total crypto market cap decreasing by 5.04%. Pi's price fell in tandem with the broader market, signaling a risk-off sentiment among investors. Bitcoin's dominance has increased, diverting liquidity from altcoins and compressing Pi's demand.

At the time of writing, Pi was trading at $0.1444, with trading volume surging by 126.75% to $35.3 million, supporting the notion of aggressive distribution. The altcoin's near-term momentum remains fragile amidst ongoing bearish pressure. If macroeconomic conditions stabilize, Pi may consolidate above recent lows. However, failure to maintain this structure could drive prices towards the $0.130 liquidity floor, serving as the next critical demand test.

Conclusion

• Resistance Shift: The $0.1444 level flipped to resistance, leading to a decline towards $0.130.
• Potential Downside: The $0.130 liquidity floor faces absorption pressure, with potential exposure to $0.115–$0.100.