Pi Coin (PI) price is at $0.178, a decrease of 3.26% today. The price is pressing against the 0.236 Fibonacci level at $0.189. The price chart repeats a structure from November and December 2025.
On-chain metrics follow the same pattern with a one-cycle delay. The example from December ended badly for PI.
CMF repeats Pi Coin’s December crash
The CMF peaked at nearly 0.30 in mid-March 2026, when PI rose to $0.299. After that, the value dropped in a straight line to -0.11. The declining blue trend line shows no flattening or bottom yet.
The December 2025 example is indicated on the chart. CMF peaked around 0.25 at the end of November, followed by an identical decline. Ultimately, CMF ended at -0.20 while PI's price dropped by 38.19% over 56 days. That decline went from the $0.220 consolidation zone to $0.139.
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With -0.11, the CMF has not yet reached the previous bottom of -0.20. The distance is approximately the same as the previous trajectory. This further decline likely means ongoing selling pressure on the price.
Pi Coin has not yet reached the reversal zone.
The MFI chart runs from November 2025 to March 27, 2026. The pink box shows the situation in December 2025. At that time, the MFI fell below 20, while the price continued to decline. That oversold metric did not lead to a reversal.
PI only found a bottom when the CMF reached its low at -0.20. At this moment, the MFI stands at 35.23, still well above the 20 threshold. The indicator is declining but is not yet in the previously ineffective support zone.
The previous oversold MFI level was accompanied by almost two months during which the CMF hovered around zero before recovery began. If this duration repeats from the current CMF level of -0.11, recovery may not start until the end of May.
Pi Coin price may drop a bit.
The Fibonacci chart shows the Pi Coin price at $0.178, between the 0.236 level at $0.189 and the zero point at $0.155. The 50-day EMA is at $0.188 and the 200-day EMA at $0.270. Both moving averages are declining and act as resistance.
The double top pattern predicts a measured decline of 33.11%. That target is at $0.130, which is also equal to the all-time low. A further decline would proceed via $0.159 and then $0.141, before $0.130 comes into view.
The CMF development and the December example suggest that the support levels will be tested one by one. As long as the capital flow remains negative, sustainable bottoms at these levels are unlikely.
Bullish invalidation requires a daily close above $0.210. Above that, $0.244 and then $0.268 are the next targets for the Pi Coin price. Recovery above $0.268 would completely break the double top pattern and make the direction neutral again.