PI Stalls at $0.40 as Bears Take Control — Is a Rebound Coming?

PI's price slams into a brutal resistance wall at $0.40—bulls are scrambling as bears tighten their grip. Here's the breakdown.

### The $0.40 Ceiling Holds Firm

No fluff—PI's rally just got smacked down hard at the $0.40 mark. Traders watched as buy orders evaporated, leaving the token gasping for momentum. Classic bearish rejection or just a pit stop before the next leg up?

### Bears Flex Their Muscles

Selling pressure ramped up faster than a Wall Street banker's bonus. Shorts piled in, liquidations spiked, and PI's charts turned redder than a overleveraged portfolio. The question now: how low can it go?

### What’s Next for PI?

If $0.40 holds as resistance, we’re staring down a retest of support levels—maybe even lower. But crypto loves a good underdog story. A bounce here could catch bears off guard and squeeze shorts into oblivion. Either way, buckle up—volatility’s back on the menu.

Funny how a token named after math’s most elegant constant can trade so irrationally. Some things never change—especially in crypto.

PI Price Stuck Under $0.40 as Bears Keep Tight Grip

Readings from the PI/USD one-day chart reveal that, over the past week, Pi has made two unsuccessful attempts to break above the $0.40 barrier. 

On each occasion, the token briefly breached this threshold, only to be met with a wave of sell-side pressure that dragged prices back below the mark before the daily close. This pattern reflects the strength of the resistance and the firm grip sellers still hold at this level.

While PI’s price is up 2% today in line with broader market growth, the 26% drop in trading volume paints a more cautious picture. This falling volume has created a negative divergence with the token’s price, hinting at the possibility of a pullback in the NEAR term.

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When an asset’s price rises while trading volume falls, it often signals weakening buying strength. This divergence suggests the PI’s rally may lack conviction and be at risk of a reversal once the daily demand starts to wane. 

Moreover, PI’s Elder-Ray Index, observed on a daily chart, paints a similar bearish picture. Over the past two trading sessions, this indicator has posted negative values. At press time, this sits at -0.0056, indicating that the bears remain in DEEP control of PI spot markets.

The Elder-Ray Index measures the balance of buying and selling pressure by comparing price movements to a short-term moving average. When negative, selling pressure outweighs buying power, confirming bearish market control.

$0.32 Crash or $0.46 Rally?

PI’s failure to secure a decisive close above $0.40 soon could trigger a revisit to its all-time low of $0.32. 

A successful breakout, however, could unlock the door for a sustained recovery, potentially pushing PI’s price toward $0.46 in the sessions ahead.