Pi’s [PI] price action has maintained a clearly defined bearish structure so far, with downside momentum accelerating with consistency.
Following a consolidation above $0.190, sellers forced a decisive breakdown that quickly shifted market positioning. That decline showed intent. Especially as candle bodies expanded on the lower trend, and repeated closes printed near the lower session – Reflecting aggressive supply rather than passive drift.
Source: TradingView
Structurally, the $0.190-level turned into resistance following the breakdown. Ongoing selling pressure and lack of buyers now increase the risk of prices moving down to the $0.1302 support level.
If the next sessions continue to follow the same pattern of selling, this level will serve as a test for demand.
$0.130 liquidity floor enters critical absorption zone
At the time of writing, Pi’s price seemed to be compressing towards the $0.130 liquidity floor. As the price approaches this range, liquidity concentration increases. This can slow down accelerated declines while testing sellers’ commitment.
Consequently, absorption probability rises if resting bids convert into aggressive market buys, often reflected through long lower wicks and firmer closes above $0.130.
In turn, tighter candle bodies may develop too, signaling an early demand response. However, sweep risk remains elevated if expanding sell volume overrides the bid wall.
Moreover, broader market weakness or liquidity rotation could hasten that breach. Should the price close below $0.130, it may quickly enter a low-liquidity pocket near $0.115, exposing further downside towards the $0.100 historical demand zone.
Broader market outlook
Here, it’s worth pointing out that the broader market weakness set the tone first. The total crypto market cap declined by 5.04%, while Pi fell alongside the broader market – A sign of widespread risk-off positioning. Selling pressure then intensified across altcoins.
However, Bitcoin’s [BTC] dominance expanded, diverting liquidity away from secondary assets. This has compressed Pi’s relative demand.
Source: CoinMarketCap
At press time, Pi was trading at $0.1444, while its trading volume surged by 126.75% to $35.3 million, thereby validating aggressive distribution rather than passive drift.
The altcoin’s near-term momentum will remain fragile as long as bearish pressure persists. Particularly as Bitcoin searches for its own structural support on the charts. If macro conditions stabilize, Pi could transition into a consolidation phase above recent lows.
However, failure to maintain the prevailing structure would expose further downside risk, likely driving the price towards the $0.130 liquidity floor. This stands as the next key demand test for Pi’s price.
Final Thoughts
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$0.190 flipped to resistance as sell momentum expanded, driving a 23.60% decline towards $0.130.
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The $0.130 liquidity floor now faces absorption pressure, with failure exposing downside to $0.115–$0.100.