🚨 Pi Coin Under Pressure: Drops Nearly 5% Amid Rising Sell Volume
Pi Coin is once again facing selling pressure, falling nearly 5% in the last 24 hours and currently trading at $0.7453. Trading volume has surged 32.23%, signaling heightened activity — but the bulk of it appears to be driven by sellers.
This decline follows an unsuccessful breakout attempt above $0.85 earlier this month, which led to a sustained downtrend and the formation of a range-bound pattern.
Current Price Action:
Support: $0.70–$0.73 — repeatedly tested but still intact
Resistance: $0.80–$0.85 — untouched since the failed breakout
Momentum: Low, with short-bodied candles indicating indecision
The 4-hour chart continues to show signs of a distribution phase, following a mid-May rally that peaked near $1.75. After falling back into the $0.70–$0.75 zone, a recovery attempt stalled at $0.85, and price has since moved sideways within a tight range.
Despite today’s volume spike, the predominance of red candles suggests that sellers are in control.