Pi Network Price Drops on May 28 — Is a Bigger Crash Coming? Bearish Signals Persist

Jakarta, Pintu News – According to Coinpedia (5/27), Pi Network has been named the most optimistic (bullish) crypto among the top 100 on CoinMarketCap, with over 4 million votes.

However, views on the real potential of Pi are still very divided. Some market participants consider Pi to be a profitable short-term asset that offers trading opportunities.

Others see it as a long-term project still in the development stage, with usability and adoption rates yet to be fully realized.

In this article, we will discuss the views of an analyst and present an analysis of the Pi coin price in the short term.

Pi Network Price Drops 0.4% within 24 Hours

On May 28, 2025, the price of Pi Network (PI) was recorded at $0.7494, a slight correction of 0.4% in the last 24 hours. If converted to the current rupiah ($1 = IDR 16,301), then 1 Pi Network is IDR 12,216.

Read also: Pi Network to $1: Is it Possible?

In the last 24-hour period, the price of PI moved in the range of $0.7382 to $0.7629, reflecting moderate daily volatility.

In terms of market capitalization, Pi Network currently has a market cap of $5.43 billion, with a fully diluted valuation (FDV) of $8.37 billion. Trading volume over the past 24 hours has also been fairly active, with a value of $133 million, signaling strong market interest in this asset.

Technical Signals Still Indicating a Bearish Trend?

In a post on platform X, Pi Barter Mall highlighted that Pi Coin is showing various bearish patterns that are getting harder to ignore.

One of the most striking is the formation of a “death cross” pattern, which is characterized by a cross between the Simple Moving Averages (SMA) and the downward trend of the MACD indicator.

The post also pointed out that this bearish formation was further reinforced by the position of MA5, MA10, and MA30, which collectively indicated the dominance of short selling.

The MACD histogram continues to display increasingly large red bars after the formation of the death cross, signaling that the downtrend has not yet reached saturation point. In addition, the KDJ indicator is also giving a bearish signal.

The analyst added that there are currently no technical signals showing signs of stabilization, and the likelihood of a V-shaped reversal before June 28 is considered weak.

Read also: Top 3 Altcoins to Watch This Week!

Pi Coin Price Analysis

As of May 27, the price of Pi Coin was around ~$0.7457, experiencing a daily decline of around 4.69%. Despite the short-term decline, the increase over the past seven days was still recorded at 1.82%.

Despite the price drop, the 24-hour trading volume surged 39.13%, reaching $125.3 million. Market capitalization also increased to $5.38 billion, up 4.84%.

Pi Coin’s price movement in the 4-hour chart shows a consolidation pattern below the 9-period SMA, which currently stands at $0.7660 and is the closest resistance area. The RSI indicator is at 39.03, indicating weakening bullish momentum.

In the short term, the important resistance level is at $0.833-if the price is able to break it, then the bullish sentiment could potentially return.

Conversely, if the price drops and breaks the critical support level at $0.6888, then there is a risk of further downside which could erase the gains recently achieved.

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*Disclaimer

This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Crypto trading activities have high risk and volatility, always do your own research and use cold cash before investing. All activities of buying and selling bitcoin and other crypto asset investments are the responsibility of the reader.

Reference:

• Coinpedia. PI Coin Price Analysis: 4 M+ Votes Can’t Stop Death Cross? Accessed on May 28, 2025