Pi Coin Sees 22% Volume Spike as Price Finds Strong Technical Support Near $0.62

Pi coin has experienced a volatile week of trading, marked by a sharp decline and a subsequent gradual recovery that suggests a sentiment of cautious optimism is returning to its market. As of press time, the token is priced at $0.6432, up nearly 1% in the last 24 hours.

The price recovery is supported by a significant 22% increase in trading volume, indicating that renewed interest is emerging at these lower price levels. This comes after a period of selling pressure that analysts attribute to broader market sentiment shifts.

At the beginning of the week, PI was trading around $0.6494 and remained stable. Nevertheless, the price began to drop quickly between June 5 and June 6 sharply plunging to roughly $0.608. This was a massive weekly drop of around 2.5%.

Analysts added that was attributed to bigger market sentiment shifts, mainly by large-scale investors selling their investments.

Following this sharp dip, PI showed signs of gradual recovery. A brief upward spike above $0.650 on June 8 indicated potential bullish momentum, though this quickly reversed, highlighting ongoing market volatility. By June 10, PI had managed a steady climb back to the $0.643 mark, signaling potential buyer support at lower price levels.

From a technical perspective, the PI token is currently in a phase of consolidation. Support around the $0.620–$0.625 range emerged strongly and was held firmly even after multiple tests. Resistance remains established at approximately $0.648–$0.652 a crucial zone PI struggled to overcome in recent attempts.

The technical indicators reflect this market indecision. Relative Strength Index (RSI) is currently in neutral territory with a reading of 52.90 which is pretty close to the midpoint of 0–100. It does not suggest an overbought or oversold condition, but recent moves into the 60 territory suggest a mild bullish sentiment. At the same time, the MACD line crossed a little above the signal line with a weak ‘histogram’ reading of +0.0004, indicating a beginning but weak upward momentum.

For a bullish trend to resume, market observers suggest a decisive breakout above the $0.652 resistance is required. Such a move could create momentum toward the $0.68–$0.70 zone. Conversely, a failure to hold support could trigger renewed selling pressure, potentially sending PI back toward $0.600 or below.0 or below.