Pi Coin excels as the market falls— How will the price react next?

Pi Coin has demonstrated superior strength compared to most other major cryptocurrencies in the context of the market correcting over 3% today. While Bitcoin, Ethereum, and BNB all recorded declines of between 3% and 12%, the price of Pi Coin only dropped 1.5% in the past 24 hours — a sign of rare resilience. However, traders are currently facing a puzzling question: two opposing chart signals could determine whether the next move will lead to a bounce back or a deeper fall.

Currently, the structure of Pi Coin is caught between cautious optimism and weakening strength.

Two signals, one uncertain result

The chart of Pi Coin shows an interesting conflict between buying power and the weakness of momentum — two signals that often guide the short-term price direction.

The Money Flow Index (MFI), which tracks the flow of money in and out of assets, has increased despite the price of Pi Coin making a lower low during the period from August 1 to October 9. This is often seen as a bullish divergence, indicating that while prices are falling, new buying has quietly entered the market. It reflects the growing interest of retail investors — a type of slow accumulation that often lays the groundwork for a bounce back.

Source: TradingViewHowever, during the period from October 6 to October 13, the Relative Strength Index (RSI) of PI — a measure of market momentum — indicated a hidden bearish divergence. The price created lower highs while the RSI created higher highs, suggesting that buying momentum is weakening even amid short-term bounce back efforts.

The RSI index of Pi Coin indicates a downtrend | Source: TradingViewInstead of completely contradicting each other, these two indicators may be reflecting different stages of the same process: MFI indicates initial accumulation, while RSI warns that the recovery may face resistance before stronger confirmation. For traders, this means that the structure remains leaning towards neutral — with a slight bias towards caution until a breakout or further decline confirms the direction.

The price structure of Pi Coin reveals a descending wedge pattern

From a structural perspective, the price of Pi Coin is currently trading within a descending wedge pattern — a formation that often suggests the potential for a bullish reversal on the daily chart.

To confirm strength, a daily Pi Coin price candle needs to surpass the $0.29 level, which will indicate a breakout from the wedge and potentially attract new buying volume.

Pi Coin Price Analysis | Source: TradingViewHowever, if we only consider the short-term history, a similar bounce back as on September 22, when PI rose 57% from $0.18 to $0.29, may repeat. This implies short-term targets of around $0.24–$0.25, with the potential to extend to $0.29 if momentum increases. A clear break above $0.29 would indicate bullish strength for the price of Pi Coin.

As of the time of writing, Pi Coin (PI) is trading near the $0.21 level, with strong support around the $0.18 and $0.15 levels. A clear daily close below the $0.15 level will break the wedge to the downside, invalidating the bullish structure.

Currently, PI is still one of the few coins outperforming the market but is walking on a thin line. Whether the accumulation led by MFI results in gains or the weakness led by RSI prolongs the correction, the descending wedge will be the final judge determining the next direction of Pi Coin's price.

Mr. Teacher