Pi Coin experienced a parabolic spike in early May, reaching over $1.70, followed by a rapid reversal back below $1.00.
After the spike, Pi Coin entered a descending channel, with key support identified around $0.70 and resistance between $0.90-$1.00.
The current consolidation phase suggests a shift from speculative to cautious trading sentiment, with $0.90 level being crucial for any bullish momentum.
Traders are advised to monitor volume closely as the next catalyst, either technical or news-driven, will determine the future trend of PI Coin.