Pi Coin ($PI ) surged 60% from $0.402 to $0.794 in hours after periods of stagnation. The surge boosted internet talk and short-term aspirations, but excitement disappeared quickly.

PI has already dropped to $0.64, raising questions about whether this was a real turnaround or simply another speculative spike.

Market experts believe speculative retail purchasing caused the price surge, not long-term accumulation. It follows a pattern: low-cap coins with limited usability and exchange access attract short-term momentum traders seeking rapid returns rather than long-term investors.

PI rose 60% before falling.

Current price: $0.64 (down 70% from February's $2.98 high).

Rally fueled by retail speculation, not fundamentals

Supply, Listings Still Impact Pi Coin

Despite the price rebound, Pi Coin's fundamentals haven't improved. The greatest issue? A token unlock wave is coming. Many more than 1.55 billion PI tokens will enter circulation in the next months, putting pressure on price unless demand surges.

Due to decreased daily trade volume, the recovery outlook dims.

Important Headwinds:

Continued token unlocks increase supplies.

Still 70% below ATH

No significant worldwide exchange listings

Volume drops following rally

Pi Coin Technical Outlook: Resistance Capped

The 4-hour chart shows Pi Coin in consolidation. Recent rebound paused below $0.693, support level and 50-period EMA at $0.675, refusing further upward. Breakout efforts are still limited by a declining trendline from March highs.

The RSI is 50, indicating neutral momentum. Support is around $0.544, but if it fails, prices may fall below $0.407, last month's low.

Pi must break and close above $0.693 with volume to become bullish. Even then, the rise may be short-lived without better fundamentals or a game-changing exchange listing.

Technical Overview:

Resistance: $0.693; 50-EMA $0.675.

Support: $0.544 - $0.407

RSI (14): 50—neutral but susceptible