Pi (PI) has seen its price rise by 0.6% in the past 24 hours to sit at $0.5818 as the latest selling pressure cools down.
Trading volumes have dropped significantly, now sitting at just $38.4 million – a stark contrast to the nearly $1.5 billion traded in a single day in early April.
Lower volume typically suggests waning trader interest, and the price is now consolidating in a narrow range – a setup that often precedes a major breakout.
With volatility likely to return, our full Pi Coin price prediction explores whether the next move will push PI toward a fresh high or deeper support.
PI’s circulating supply has been expanding rapidly as more tokens are unlocked and more mainnet migrations are completed by PI token holders. This is a factor that favors a bearish Pi price prediction.
The project’s monthly unlock schedule indicates that 223 million PI will be added to the circulating supply this month while nearly 455 million tokens will be added in May and June. This implies a 6.5% supply expansion in just two months.
Meanwhile, the token’s prospects have also been affected by the reluctance of top exchanges like Coinbase and Binance to list PI as they refuse to go through the network’s complex Know Your Business (KYB) protocols.
Pi Coin Price Prediction: Tight Consolidation Signals Explosive Breakout Ahead for PI
A popular indicator known as the Bollinger Bands shows significant price compression as the upper and lower band of the indicator are the tightest they have ever been since the Pi Network public mainnet was launched.
The price action appears to favor a bullish outcome thus far as the token has moved above the upper Bollinger with strong trading volumes.
A break above the $0.6000 level would favor a bullish outlook for Pi while the key support to watch currently sits at $0.5700 – the token’s nearest lower low.
Momentum indicators are favoring a bullish outcome as well in the hourly chart as the Relative Strength Index (RSI) has been trending higher and currently stands above its 14-day simple moving average (SMA).
Meanwhile, the MACD’s histogram is still in positive territory and has been trending higher lately as well.
If PI breaks above its 200-hour EMA, this would confirm a strong bullish push that could propel the token to the $0.7000 area.
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