Weak Structure Keeps Pi Network Below $0.60

The Pi Network price today is trading around $0.578, down nearly 1.5% on the day and continuing to display weakening market structure across multiple timeframes. After failing to sustain a break above the $0.60–$0.63 range, Pi Network price has re-entered a sideways zone with flat momentum and lower volume activity. Over the past 10 days, the price has remained locked in a narrowing triangle with progressively lower highs, forming a clear descending trendline now acting as dynamic resistance near $0.59. Despite occasional Pi Network price spikes, the lack of bullish confirmation has reinforced the bearish bias ahead of May 7. 4H and Intraday Charts Show Bearish Rejection at $0.60 On the 4-hour chart, the Pi Network price action continues to hover below the $0.60 psychological barrier. Price action has repeatedly failed to breach this level, with visible rejections along the descending trendline from April highs. The most recent breakout attempt was again short-lived, with Pi falling back into the $0.577–$0.588 channel. A bearish breakout occurred during the May 6 session as price pierced below the ascending short-term support line. The lower Bollinger Band is now expanding to the downside, confirming Pi Network price volatility is increasing amid growing selling pressure. The 30-minute chart further highlights this breakdown, where Pi failed to maintain its rising wedge structure and fell back under the $0.5841 pivot. This now becomes immediate resistance for bulls. Unless Pi climbs above $0.592, momentum favors a retest of $0.572 and potentially $0.556. Why Pi Network Price Going Down Today Several momentum indicators signal further downside. The RSI on the 4-hour frame is sitting at 37.5 and trending downward—close to oversold, but not signaling a bullish reversal yet. The MACD histogram has also turned fully negative with a bearish crossover extending since May 1, reinforcing the downward trajectory. Bollinger Bands remain squeezed, but with a slight downward slope, while moving averages (EMA 20/50/100) are aligned in bearish order. On higher timeframes, price remains firmly under the 100-EMA near $0.617, showing Pi Network price update remains weak from a structural perspective. Unless the token reclaims key resistance levels with strength, the path of least resistance remains to the downside. Pi Network Price Prediction for May 7 For May 7, the forecast remains cautious with a short-term bearish tilt. If Pi Network price closes below $0.577 support, the next major zone lies at $0.556, with a stronger capitulation possibly dragging it to $0.532. However, a bounce back above $0.588 followed by a break of $0.592 could flip sentiment temporarily and retarget $0.60–$0.6293. A daily close above this level would invalidate the descending triangle and open the door for a broader reversal. Forecast Table: Pi Network Price Outlook for May 7 Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company. Source: https://coinedition.com/pi-price-prediction-for-may-7-2025/