Pi Coin has moved sideways over the past few days. The price shows some signs of stabilization after a week of steady declines. At the time of writing, Pi is trading at around $0.58977, up slightly 0.40% in the last 24 hours. The market appears uncertain, and both buyers and sellers seem to be waiting for stronger signals.

The range between $0.58 and $0.60 has become a critical battleground. Now, the focus shifts to whether Pi Coin can break through the resistance level or slide back to the support level.

Pi Coin Chart Analysis

Looking at the 4-hour chart, we see that the weak downtrend has begun to lose momentum. The price continues to move below the 200-day EMA, which often signals that the long-term trend remains negative. Each time the price attempts to rise higher, it encounters resistance near the EMA line. Sellers are effectively defending that level.

There is strong support around the $0.565 to $0.570 level. This area has been tested multiple times and remains firm. On the other hand, the price faces resistance at $0.600. This level has acted as a ceiling multiple times over the past week. Currently, the price is stuck between these two areas, and a breakout in either direction could determine the next move.

Candles from May 2 to May 5 are small and tight. This indicates the market is in a low volatility phase. There is no strong momentum in either direction. A breakout may come soon, but the chart has yet to provide clear hints.

Technical Indicators

Here’s a quick overview of some important daily indicators for Pi Coin:

Most indicators still show weak momentum and a slight downtrend. The MACD is in negative territory and the rate of change confirms the recent price decline. The CCI is near -100, which often marks the boundary of oversold conditions. If this continues, a short-term recovery may occur.

The RSI is below 50 but not close to 30, reflecting a neutral to bearish setup. Overall, indicators suggest the market is awaiting a trigger, but sellers are still slightly ahead.

Pi Coin Price Prediction for May 5

For today, the price is likely to remain within the same narrow range unless a clear breakout occurs. If the price rises above $0.600 with substantial volume, Pi may test the $0.615 area. That would be the first sign of short-term bullish momentum. If it can push higher, the next target could be $0.628.

However, if the price drops below $0.580, the support level at $0.565 may reappear. A drop below that could pave the way to $0.550.

Currently, the market has not yet decided. The short-term trend is slightly bearish, but if the buyers take control, the price could change quickly. Traders should keep a close eye on the $0.600 level today, as it could determine which side wins.