Pi Coin Technical Breakdown: Critical Support Test Looms Amid Bearish Pattern
Pi Coin's market structure has turned decisively bearish after a 14% plunge breached the $0.22 neckline of a completed head-and-shoulders pattern. The breakdown erases November's gains and sets the stage for a potential retest of all-time lows at $0.17, with 17.7% of the pattern's projected decline still unrealized.
Liquidity concerns compound the technical damage, with $1.25 million in Pi tokens unlocking daily amid dwindling adoption. The project's lack of meaningful utility continues to deter sustained buying interest, leaving the $0.20 psychological level as the next potential support zone.
Chart analysts warn of a dangerous vacuum below $0.17 where historical support is virtually absent. This technical void, combined with waning influencer support, raises the specter of accelerated declines unless buyers can establish a foothold at current levels.
