Pi Coin Price Risks 23% Drop To Historic Lows As Bullish Crossover Fails

Core Insights - Pi Coin has been trading sideways for several weeks, showing little momentum and is now experiencing a breakdown in its consolidation phase as market conditions worsen [1] - The correlation of Pi Coin to Bitcoin has dropped to a negative 0.24, indicating it is moving independently of the broader crypto market, which is unfavorable for investor confidence [2][3] - Current indicators suggest that Pi Coin's price could drop toward $0.200, with a potential retest of its all-time low at $0.184, approximately 23% below current levels [7] Market Conditions - Pi Coin's Moving Average Convergence Divergence (MACD) indicator was close to a bullish crossover, which typically signals a recovery phase, but worsening market conditions disrupted this momentum [4][5] - Pi Coin is currently trading at $0.239, just below the $0.240 threshold, having declined nearly 9% in the past 24 hours due to increasing selling pressure [6] - A stabilization in the broader crypto market could allow Pi Coin to rebound, with a move above $0.270 potentially invalidating the bearish outlook [8]