The Pi coin price structure shows that the crypto had been in a

The Pi coin price structure shows that the crypto had been in a consolidation phase for a long time on the daily chart and was bound in a range.

However, the price action showed a spike as big as a skyscraper on the chart, and the price breached the resistance level of $42 reached the top of $135, and broke in between hurdles like $50, $60, $73, $86, and $104 in the hurdle.

The overall price indicates a pump-and-dump kind of situation, as its surged gains have plummeted on the chart and are back to the support at $42, which was an earlier resistance.

The price-performance exhibits that, in the last week price plunged -55.94% and an intraday loss is -0.45% with a current price at $42.22.

Moreover, the PI coin asset is displaying bearish characteristics as it has been trading below EMA bands, MACD shows a bullish cross with histogram increasing downwards, and the RSI is falling smoothly by taking rejection from 14-SMA, implying that the asset is losing momentum and can achieve new depths.

Therefore, if the demand for the asset declines then buyers will lose more traction and could slip the holding of the $42 support level and after destroying this level of support, the price could end up back in the previous consolidation range.

On the flip side, the game can change entirely and different possibilities can occur, only if demand increases abruptly this could make the PI coin bounce back from the level and could give targets like $50.0 and $60.0 easily.