Pi Network has seen a modest increase in its PI/USDT price, rising by around 0.36% in the last 24 hours. Over the past week, Pi coin has made a slightly larger gain of 1.18%, suggesting some positive momentum despite the market’s ups and downs. As traders keep a close eye on the price action, the big question is whether the Pi price will continue climbing or face further declines. The key support and resistance levels in play, both bulls and bears, are fighting for control. This analysis looks at the short-term outlook for Pi coin, taking into account important technical indicators and overall market sentiment.
Pi Price Faced Bearish Pressure on May 6
The trading day on May 6th of PI/USDT started with a moderate trading range, with the price fluctuating in a narrow band as buyers and sellers battled for control. At 08:00 UTC, the MACD line indicator signaled a death cross, indicating a shift in momentum towards the downside. This led the beginning of a bearish trend with the price falling steadily. At 10:00 UTC, RSI indicator showed an oversold signaling that the selling pressure was overwhelming, pushing the price further down. Another oversold signal appeared at 10:40 UTC, reinforcing the bearish sentiment.
PI/USDT chart, analyzed by ShwetaCW, published on TradingView, May 7, 2025
As shown in the PI/USDT chart, at 11:00 UTC, the MACD line formed a golden cross, suggesting a potential reversal as buyers started to step in, leading to a brief upward movement. The price fluctuated upward, but the bullish momentum was short-lived. A second death cross on the MACD line at 20:20 UTC pushed the price back down, with more selling pressure entering the market. Later, at 21:25 UTC, another oversold signal on the RSI indicated that the price had reached a support level at $0.5711, where buyers began to take control. By 22:00 UTC, the MACD line showed another golden cross, initiating an upward trend as bulls regained momentum. The price fluctuated upwards, signaling a shift in market sentiment towards the bullish side as the day ended.
Pi Price Shows Mixed Momentum on May 7
The trading day of May 7th for PI/USDT began with a bullish start as the price moved upwards within a moderate trading range. At 10:25 UTC, a golden cross on the MACD line confirmed the bullish signal, pushing the price higher. The RSI indicator showed an oversold at 11:40 UTC, signaling that sellers were exhausted, and buyers took control, pushing the price further upward. But, at 12:35 UTC, the MACD line shows a death cross, signaling a shift towards a bearish trend. This marked the beginning of downward pressure as sellers regained control, causing the price to pull back. With bulls and bears battling for dominance, the market remained volatile, and the direction of PI/USDT price action was uncertain moving forward.
Will Pi Coin Break Support or Bounce Back?
Pi Network’s analysis indicates that if the downward trend continues, the price could break the current support at $0.5711, potentially pushing it below the psychological level of $0.550. Sellers could take control, causing further declines. Alternatively, if the trend reverses and bulls regain strength, breaking through the resistance at $0.5950 could lead the way for a move toward $0.62. Currently trading at $0.5832, Pi coin’s next move depends on whether buyers can sustain momentum. A failure to break the resistance level may result in continued bearish pressure, keeping the market in a critical phase.
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