Pi Coin's Price Increases 0.36% over 24 Hours, According to May 7 Report, Signaling Potential Additional Advances
Pondering Pi's Future: A Glimpse into the Cryptocurrency's Short-Term Trajectory
Pi Network has experienced a minor bump in its PI/USDT value, climbing by about 0.36% in the last 24 hours. Over the last week, the coin has seen a slightly larger surge of 1.18%, suggesting a touch of optimism amidst the market's wild ups and downs. As traders scrutinize the movement, the question on everyone's mind is whether the Pi price will continue climbing or face another plunge. Let's dive into the short-term outlook for Pi coin, taking into account crucial technical indicators and overall market sentiment.
Pi Price Witnessed a Bearish Push on May 6
The trading day on May 6 began with Pi coin bobbing within a narrow range as buyers and sellers fought for supremacy. At 08:00 UTC, the MACD line indicated a death cross, signifying a shift in momentum towards the downside, launching a bearish sequence. At 10:00 UTC, the RSI showed an oversold, signifying that the selling pressure was overwhelming, intensifying the bearish trend. Another oversold signal appeared at 10:40 UTC, fortifying the bearish sentiment.
Check out ShwetaCW's analysis of the PI/USDT chart on TradingView, published on May 7, 2025, for a visual representation.
As shown in the chart, at 11:00 UTC, the MACD line formed a golden cross, signaling a potential reversal as buyers reentered the fray, propelling the price upward. The price continued to rise, but the bullish momentum was short-lived. A second death cross on the MACD line at 20:20 UTC sent the price back down, inviting more selling pressure. Later, at 21:25 UTC, another oversold signal on the RSI indicated that the price had reached a support level at $0.5711, where buyers regained control. By 22:00 UTC, the MACD line showed another golden cross, marking the beginning of an upward trend as the bulls reclaimed momentum. The price continued to fluctuate upward, suggesting a shift in market sentiment towards the bullish side as the day ended.
Pi Price Remained Mixed on May 7
The trading day of May 7 began with Pi coin moving upward within a moderate range, indicating a positive start. At 10:25 UTC, a golden cross on the MACD line reinforced the bullish signal, pushing the price higher. The RSI showed an oversold at 11:40 UTC, signaling that sellers were exhausted, and buyers took control, propelling the price further upward. However, at 12:35 UTC, the MACD line indicated a death cross, signaling a shift towards a bearish trend. This set the stage for downward pressure as sellers reclaimed control, causing the price to retreat. With buyers and sellers locked in a standoff, the market remained volatile, and the direction of Pi/USDT price action was uncertain moving forward.
Will Pi Coin Break Support or Make a Comeback?
The analysis of Pi Network suggests that if the downward trend continues, the price may drop below the current support at $0.5711, dipping below the significant psychological level of $0.550. Sellers could continue their onslaught, leading to more declines. Conversely, if the trend reverses, and the bulls regain power, breaking through the resistance at $0.5950 could pave the way for a move toward $0.62. Presently trading at $0.5832, Pi coin's next move hinges on whether buyers can maintain their momentum. Failing to breach the resistance level could result in ongoing bearish pressure, keeping the market in a crucial phase.
Additional Insights:
Short-term Price Prediction for Pi Coin
The short-term price prediction for Pi Coin is varied, with some forecasts pointing towards a potential increase in the coming months. Here are some key points:
- Price Range: As of May 2025, Pi Coin is predicted to trade within a range of $0.63 to $0.76[5]. In a bearish scenario, where selling pressure escalates due to token unlocks, Pi Coin might dip to $0.60 to $0.63[5].
- Resistance and Support Levels: The immediate support level is around $0.640, while the first resistance level is at $0.700[3]. A break above $0.700 could open the way back toward the $0.740–$0.750 range[3].
Factors Influencing Pi Coin's Direction
Several factors could sway the direction of Pi Coin's price:
- Tokenomics and Supply: Pi Coin features a substantial circulating supply, with a total supply cap of 100 billion. This could lead to inflationary pressures if more tokens are released, potentially diluting value[3].
- Market Sentiment: The overall sentiment remains gloomy due to broader altcoin market trends and heavy selling pressure[3]. A surge in positive market sentiment, such as increased adoption and favorable investor attitudes, could boost prices.
- Listing and Adoption: If Pi Coin gets listed on major exchanges, it could see substantial price jumps, potentially reaching $10 to $100 in the short term[2]. Successful adoption and integration into mainstream financial systems could further support price growth.
- Market Volatility: Pi Coin is known for its volatility, with prices fluctuating rapidly in response to market conditions and external factors like social media buzz[3].
- Mobile Mining Concept: Pi Coin's unique mobile mining feature continues to generate interest, which could contribute to price stability or growth if more users adopt the platform[3].
[1] ShwetaCW, "Pi Coin Analysis: PI/USDT Price Battle – May 6 & 7," TradingView (May 7, 2025). Retrieved from https://www.tradingview.com/chart/Pi-Coin-Analysis-PIUSDT-Price-Battle-May-6-7/69458495906-B5A3C2/
[2] "Pi Coin Prediction: Will It Hit $10–$100 in 2025?" CoinGyaan, (May 5, 2025). Retrieved from https://coingyaan.com/pi-coin-prediction-will-it-hit-10-100-in-2025/
[3] "Pi Coin Price Prediction – Will It Reach $1 in 2025?" TechAcute, (May 4, 2025). Retrieved from https://www.techacute.com/pi-coin-price-prediction-will-it-reach-1-in-2025/
[4] "Pi Coin (PI) Charts and Data," CoinMarketCap, (May 7, 2025). Retrieved from https://coinmarketcap.com/currencies/pi/charts/
[5] "Pi Coin Price Prediction," My Coin Comparison, (May 7, 2025). Retrieved from https://mycoincomparison.com/pi-coin-price-prediction/
- In the analysis of TradingView published on May 7, 2025, ShwetaCW depicted the Pi/USDT chart, providing visual insights into the coin's trading activity.
- On May 6, a death cross on the MACD line at 08:00 UTC signaled a shift in the Pi coin's momentum towards the downside, initiating a bearish sequence.
- The trading day of May 7 started with Pi coin moving upward but facing a shift towards a bearish trend at 12:35 UTC due to a death cross on the MACD line.
- Significant factors that could sway the direction of Pi Coin's price include tokenomics, market sentiment, listings, market volatility, and the unique mobile mining feature.
