Pi Coin is under renewed selling pressure after breaking a critical chart pattern that previously supported its November uptrend. The token has fallen nearly 10% over the past week and another 4% in the last 24 hours, confirming a downside pattern break that now threatens to push the price toward a new all-time low. The key question for traders is whether Pi Coin can stabilize before deeper losses emerge.
Pi Coin’s breakdown below the neckline near $0.219 completed a classic head-and-shoulders pattern — a structure widely viewed as signaling a bearish reversal. Based on the pattern’s measured move, the projected downside is roughly 22.8%, placing Pi Coin near $0.169. This is significant because the token’s current all-time low is $0.172, meaning a continuation of the current trend would create a new record low.
Despite the bearish structure, two important indicators show Pi Coin still has underlying buyer support. The Chaikin Money Flow (CMF) shows a small bullish divergence: between December 9 and 11, Pi’s price formed a lower low while CMF climbed higher. This suggests larger buyers might be absorbing sell-offs. CMF has also broken above its short-term downtrend, though it must move above the zero line to confirm real strength.
Price momentum also hints at weakening selling pressure. The Relative Strength Index (RSI) formed a hidden bullish divergence between November 4 and December 10 — price made a higher low while RSI made a lower low. Hidden divergence often appears when a broader trend is trying to continue upward, signaling sellers may be losing momentum.
Even with these supportive signals, bears still control the breakdown. Pi Coin trades near $0.208 and sits at a critical inflection zone. The most important support level is $0.192. If the price falls below this zone, it would likely accelerate toward the pattern target at $0.169, confirming a new all-time low.
For any meaningful recovery, Pi Coin must reclaim $0.233 — a move that would show early bullish strength by climbing above the right shoulder. A complete trend reversal, however, only happens if price breaks above $0.284, the level above the head of the pattern.
Pi Coin is now trading between bearish pressure and early signs of accumulation. Whether it holds the $0.192 support or continues lower will determine if the token faces a “doomsday” breakdown or manages a rebound from current levels.
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