Over the past week, the cryptocurrency market has been on the rise, gaining 5.61%, with Bitcoin up 5.2% and altcoins climbing 4.85%. But while most of the market is seeing green, Pi – one of 2025’s most talked-about cryptocurrencies – is deep in the red. Instead of riding the bullish wave, PI has plunged 26.3% in just seven days, including a sharp 9.4% drop in the last 24 hours.
So, what’s going on? Why is PI struggling when the rest of the market is thriving?
Let’s break down the key factors and what could happen next.
PI’s recent price action has been highly volatile. On February 20, it was trading at just $0.1071. Over the next six days, its price skyrocketed by 2,688.79%, briefly crossing the $3 mark on February 26.
However, the rally was short-lived. On February 27, sellers overpowered buyers, marking the start of a continuous decline. Since then, PI’s price has fallen by more than 70.40%, with no clear signs of recovery.
Market data suggests that traders are losing interest in PI. Demand has steadily declined since February 27, reinforcing the downward trend.
A key technical indicator, On-Balance Volume (OBV), further confirms this shift. OBV tracks buying and selling pressure in a market. On February 26, PI’s OBV was around 566.88M. Today, it has plummeted to -1.06B, highlighting a significant increase in selling pressure.
PI has been moving within a downward-sloping channel since reaching its all-time high of $3. This pattern suggests a bearish trend, with lower highs and lower lows.
For now, PI remains under strong selling pressure, and technical indicators suggest further downside risk. Whether the price stabilizes or falls further depends on whether buyers can regain control. Traders should watch for a breakout from the descending channel to determine the next major price move.
With sellers in control and buyers on the sidelines, PI’s fate hangs in the balance. The question is: how much lower can it go before the tide turns?
PI Coin is facing heavy selling pressure due to declining demand, bearish technical indicators, and a lack of buyer interest since February 27.
PI Coin is in a strong downtrend. Investors should watch for trend reversals and key breakout signals before considering an entry.
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