Pi Coin is one of the hardest-hit coins over the past year, down more than 50%. Many traders hope PI will lead a larger bullish wave along with the rest of the altcoin market.
But the latest chart shows a different picture; the price of PI is not only about to reach a new record low, but the actual bottom could be much deeper than most people expect.
ATR Indicates Decreasing Volatility, But Not the Kind Buyers Want
The first warning sign comes from the Average True Range (ATR) indicator, a tool that measures the level of significant price volatility. When Pi Coin reached a high of nearly $1.66 in May, ATR was at 0.17, signaling strong momentum and active trading.
Today, ATR has dropped to just 0.0268. This sharp decline means that price volatility has become small and weak. Instead of a battle between buyers and sellers, the market seems to be slowing down, with the sellers still in control.
Low ATR during a downward trend often means there is no energy to recover; only light selling pressure is causing the price to drop.
Money Flow Index Indicates Buyers Losing Interest
The Money Flow Index (MFI) also tells a similar story. This indicator combines price and volume to show whether money is flowing into or out of a token.
In the past 10 days, MFI has been stuck at 55. This level is not high enough to indicate real demand and not low enough to show panic selling.
In early July, when Pi Coin fluctuated around $0.47, there were signs of new money flowing in to protect the support level. That's why PI always recovers after hitting a bottom.
But that money flow has now stagnated. Fewer buyers are showing interest, even at lower prices, making it difficult for Pi Coin to recover in the short term.
Bearish Pattern Indicates Pi Coin Price Bottom Deeper
On the chart, Pi Coin is stuck in a descending triangle pattern, a bearish pattern where lower highs continue to reach a fragile support level. Currently, the nearest support levels are at $0.42 and $0.40, and breaking through this level seems increasingly likely as not much capital is being invested.
If the support level of $0.40 is broken, the main support level and Fibonacci retracement level would only come down to $0.39, and even $0.35 is the next potential bottom, both lower than the current all-time low.
To recover, Pi Coin needs to surpass the levels of $0.44 and $0.45 to invalidate this short-term bearish trend. However, this invalidation requires ATR and MFI to increase.
