PI Coin has been one of the most talked-about cryptocurrencies of 2025, but recent market trends are showing a significant decline. Over the past week, while the overall cryptocurrency market has grown by 5.61%, PI has suffered a steep 26.3% drop. This decline has continued into the last 24 hours with a further 9.4% drop, raising questions about whether this downtrend will persist or if a rebound is on the horizon.

PI’s Recent Price Movement

At the start of February 2025, PI Coin was valued at just $0.1071. However, between February 20 and February 26, the cryptocurrency saw an extraordinary surge of 2,688.79%, with the price even surpassing the $3 mark at its peak. Unfortunately, on February 27, sellers overtook buyers, and since then, the price has experienced a steady decline. Currently, PI has lost over 70% of its value since hitting its all-time high, with the recent market behavior pointing to continued downward momentum.

PI’s Struggles: Why the Selling Pressure?

Several factors contribute to PI’s decline, with the most obvious being the decrease in demand. Since the dramatic growth in late February, traders appear to be distancing themselves from the PI market, contributing to the drop in price. The On-Balance Volume (OBV) indicator, which tracks buying and selling pressure, has seen a dramatic shift. On February 26, the OBV stood at 566.88M, but it has since dropped to -1.06B, signaling a sharp increase in selling pressure.

This bearish trend is further reinforced by the chart pattern. PI has been trading within a descending parallel channel since its all-time high, showing a series of lower highs and lower lows, a clear indicator of ongoing selling dominance.

What’s Next for PI? Key Price Levels to Watch

The outlook for PI Coin heavily depends on the balance between buying and selling pressure. If the selling continues, PI may break below its current price channel and could potentially fall to as low as $0.62. On the other hand, if buyers manage to step back in and regain control, the price could push upward toward $1.13.

Traders should pay close attention to PI’s price action and watch for a breakout from the descending channel to determine the next significant price move. A successful break above this channel could signal a potential rebound, while continued selling could reinforce the ongoing downtrend.

Conclusion

The PI market is currently under significant pressure, with technical indicators suggesting continued selling. However, a rebound is still possible if buyer interest returns. Investors should closely monitor the market for any signs of change, particularly a potential breakout from the bearish channel, which could indicate a shift in momentum. Whether PI Coin will continue its downward spiral or regain momentum depends on market dynamics in the coming days.