After skyrocketing from $0.60 to a peak of $1.56 within a few sessions, Pi Coin price has retraced sharply to the $0.85–$0.90 region. This zone is now acting as a short-term consolidation base. The Pi Coin price today is holding near $0.896, up 3% intraday, suggesting signs of a potential reversal after the intense Pi Coin price volatility seen in mid-May.
On the 4-hour chart, the asset remains under a descending trendline from the May 13 peak, but the price is attempting to break out above the recent short-term wedge pattern. A decisive close above $0.91 could push the next leg of recovery, while a drop below $0.84 risks deeper losses.
Pi Coin Price Action Shows Base Formation After High-Volume Crash
Zooming into the 30-minute chart, the Pi Coin price action shows a structure of lower highs and higher lows, indicating a classic coiling pattern near support. Multiple breakout candles from the $0.87 zone have been seen, but bulls are struggling to break past the $0.91 resistance, which aligns with EMA clusters on the 4-hour timeframe.
RSI on the 30-minute chart is back above 62 and climbing, indicating growing bullish momentum. At the same time, MACD has crossed above the signal line, flashing a positive divergence as price stabilizes above the 100-EMA ($0.83). The Stochastic RSI also reflects a strong bullish crossover from oversold territory, now peaking near 98, signaling that any further move needs confirmation before chasing.
Why Pi Coin Price Going Up Today?
The question of why Pi Coin price going up today can be attributed to several converging indicators. Firstly, the Bollinger Bands on the 4-hour chart are narrowing, suggesting that the sharp compression phase is giving way to an expansion — typically a prelude to trend resumption. Secondly, price is consolidating right at the midpoint of the previous rally, holding support around the 20-EMA band near $0.89.
Ichimoku Cloud analysis shows that price has flipped just above the baseline ($0.88) and conversion line ($0.87), which supports short-term bullish continuation. However, the cloud ahead remains flat and wide, hinting at possible sideways movement unless volume surges in the upcoming sessions.
Pi Coin Price Outlook for May 17
If Pi Coin manages to break and hold above $0.91, the immediate upside target lies at $1.01, followed by $1.15 near the upper Bollinger Band. However, failure to sustain above $0.89–$0.91 may drag the asset back to retest support at $0.83 and potentially the $0.78 demand zone. RSI and MACD favor the bulls, but the trendline from $1.56 remains intact and must be cleared to fully flip the short-term structure.
This recovery attempt was outlined in our earlier analysis where Pi Coin was approaching $0.84 support with RSI divergence. The current Pi Coin price update reaffirms that buyers are defending that zone effectively, but bulls need a clean break above $0.91 to confirm strength.
Pi Coin Price Forecast Summary
| Indicator | Signal | Support Levels | Resistance Levels |
| RSI (30-min) | Bullish (62) | $0.84 / $0.78 | $0.91 / $1.01 |
| MACD | Bullish Crossover | $0.83 | $1.15 |
| Ichimoku | Cloud Base Support | $0.88 | $0.91 (Break Needed) |
| Trendline | Bearish (Needs Breakout) | $0.84 | $1.20 |
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