Pi Coin’s price is edging closer to a new all-time low as a bearish chart pattern continues to weigh on the token, with support barely holding beneath the current level.
Three separate indicators—covering capital flows, social engagement, and smart money positioning—have all turned negative as the token tests its most critical support level since February.
Head and Shoulders Pattern Emerges as CMF Signals Capital Outflow
The PI/USDT daily chart reveals a Head and Shoulders formation, a well-known bearish reversal pattern. This structure consists of a higher peak (the head) surrounded by two lower peaks (the shoulders), with a horizontal neckline connecting the swing lows.
The left shoulder took shape in mid-February. The head formed in mid-March near the cycle high. The right shoulder was completed in mid-May and is now turning downward.
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The Chaikin Money Flow (CMF), a volume-weighted gauge that tracks institutional buying and selling pressure, has dropped to -0.04 on the daily chart. This is the weakest reading since early April.
The indicator has crossed below the zero line and is now retesting its most pressured zone in approximately two months. A move below -0.05 would confirm a more intense outflow phase, consistent with the pattern’s bearish outlook.
However, capital outflow alone doesn’t capture how much attention Pi Network is attracting as the breakdown nears.
Pi Network Social Volume Plummets From 31 to 1
Pi Network’s daily Social Volume—a Santiment metric that tracks unique social posts discussing the token across over a thousand crypto channels—has crashed to 1. This reading sits at the bottom of the visible chart range. In contrast, the score reached 31 on May 8 following a brief retail rally attempt.
The nearly 97% decline in social activity indicates that retail interest has evaporated as the price has drifted downward. Quiet markets often prolong bearish trends because no new demand emerges to counter selling pressure.
For a community-driven asset like Pi, where engagement has traditionally fueled demand, a muted social landscape is a structural red flag. The token is declining without any compelling narrative drawing in fresh buyers.
The crowd has pulled back, but the real question is whether sophisticated investors are following suit.
Smart Money Index Drops Below Signal Line
The Smart Money Index, an indicator that gauges positioning by experienced traders, currently reads 0.9063 compared to its signal line at 0.9157.
The Smart Money line is now diverging below its signal line—a setup that has historically preceded further price weakness when it persists. The metric fell below its baseline relative to the signal line in early May, and the gap has kept widening.
The only element still supporting the indicator is an ascending trendline anchored from the early-February low. That trendline is now under pressure.
The Pi Coin price is currently struggling to hold the $0.145 neckline of the Head and Shoulders pattern. A daily close below $0.145 would open the path directly to the $0.130 all-time low, which sits roughly 13% below the current spot price.
The first support below the neckline comes at $0.143, the 0.236 Fibonacci retracement level of the structure. Below the all-time low, $0.129 (0.5 Fibonacci) and $0.122 (0.618) become the next areas of concern.
Further bearish targets line up at $0.113 (0.786) and $0.102 (1.0 Fibonacci). The pattern’s full measured-move target near $0.074 aligns with the 1.618 extension at $0.069, marking the deepest projected zone.
Every level below $0.130 would establish a fresh all-time low and push the token into uncharted territory with each breakdown.
A bullish reversal, however, would only begin with a daily close back above $0.156, the right shoulder peak. Genuine strength returns above $0.200, the left shoulder zone, while the full pattern is invalidated only on a move above the $0.300 head.
A daily close above $0.156 would distinguish a potential right shoulder recovery from a confirmed slide into all-time low territory.
The post Pi Coin Loses Social Pulse With New All-Time Low Just 13% Away appeared first on BeInCrypto.
