Pi Coin’s Month-Long Downtrend Challenged By Bitcoin Rise Past $115,000
Pi Coin’s price has remained in a sideways pattern over the past few days, showing little sign of momentum.
Despite this stabilization, the token continues to face its broader downtrend, struggling to reclaim critical resistance levels that could open the door to recovery.
Pi Coin Finds Support From The Market
Pi Coin’s correlation with Bitcoin is showing notable improvement, currently standing at 0.09. This is a significant rise from the negative correlation observed earlier. A closer alignment with Bitcoin could strengthen Pi Coin’s chances of avoiding further declines.
The benefit lies in Bitcoin’s rally, with the leading cryptocurrency trading above $115,000 and maintaining upward momentum. Historically, improving correlation with Bitcoin has helped smaller tokens share in bullish sentiment. If this trend holds, Pi Coin could benefit from stronger market positioning.
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Pi Coin Correlation To Bitcoin. Source: The broader macro momentum for Pi Coin appears cautiously positive, supported by the Moving Average Convergence Divergence (MACD). The indicator continues to display bullish momentum despite recent weakness. This shows that market cues are still favoring buyers in the short term.
At the same time, the MACD has avoided a sharp bearish crossover, indicating resilience among traders. With broader market optimism helping sustain this momentum, Pi Coin could remain afloat even as it faces significant resistance levels in its ongoing downtrend.
Pi Coin MACD. Source: Pi Coin Price Needs A Push
Pi Coin is trading at $0.356 at the time of writing, sitting just below the $0.360 resistance level. The token has been caught in a month-long downtrend, making this resistance an important test for bullish sentiment.
If market support strengthens, Pi Coin could push past $0.360 and rise to $0.381. A successful breach would mark the end of the recent downtrend. This would open the possibility of further gains, supported by improving correlation with Bitcoin.
Pi Coin Price Analysis. Source: However, failure to clear $0.360 could leave Pi Coin vulnerable to renewed losses. The token risks slipping to $0.343 or lower, which would invalidate the bullish outlook. This would extend its period of weak performance, delaying any meaningful recovery.
