In a surprising but calculated move, the Pi Core Team (PCT) is scooping up millions of Pi Coins from centralized exchanges to prevent a steep price drop after the recent unlock event. According to crypto analyst Dr Altcoin, a sub-wallet linked to the team has quietly amassed 48.5 million Pi, roughly $31 million worth, in just two months. This buying spree is a quick fix to keep the Pi coin price afloat and avoid panic selling. While it’s not a long-term solution, it’s giving the market some breathing room for now, with trading volume and price showing a healthy uptick.
So far, the strategy works; Pi has held firm above $0.60, climbing nearly 6% in the last 24 hours. But as whispers of uncertainty grow louder, traders watch closely to see if the Core Team can keep this up. Let’s break down what the charts are showing, whether the Pi coin price can hold on its own, or if this safety net is starting to fray.
PI Coin Price Analysis of April 23, 2025
The price action on April 22nd began with PI/USDT consolidating in a tight range between $0.625 and $0.635, establishing a neutral sentiment through the early hours. This sideways structure persisted until approximately 09:00 UTC, marked by low volatility and minimal directional strength. However, as bullish momentum formed within a rising channel structure, Pi coin price action breached the $0.631 support line by 10:00 UTC, shifting sentiment into a gradual uptrend. Momentum indicators like RSI began climbing into upper neutral territory, while MACD lines hovered near convergence, signaling a potential PI breakout buildup.
Chart 1, Analyzed by Alokkp0608, published on April 23rd, 2025.
From 09:00 to 21:00 UTC, PI moved steadily within the ascending channel, respecting the dynamic support and resistance lines. The Pi coin price tested the $0.650–$0.655 zone multiple times before gaining bullish traction. RSI hovered near the overbought threshold across multiple swings during this phase, suggesting strong buying interest without aggressive exhaustion. MACD also showed multiple golden cross setups through this interval, confirming bullish sentiment continuation. Notably, a volatility-driven surge occurred around 21:45 UTC, catapulting the price above $0.663 resistance, breaking a key barrier, and establishing a new short-term high around $0.675.
PI Price Prediction: What Lies Ahead for Pi Coin?
Following the bullish PI breakout at 06:30 UTC on April 23, Pi coin price held above the previous resistance-turned-support of $0.663. The price momentarily peaked at $0.675 before entering a consolidation pattern. This sideways movement near the highs suggests a potential bullish flag or reaccumulation phase. RSI cooled down from overbought levels, now resting around 49–50, indicating neutral momentum after a strong push. Meanwhile, MACD printed several death crosses post-peak, implying a temporary loss of bullish dominance. Still, with higher lows intact and price holding above $0.663, the broader bias remains slightly tilted in favor of bulls unless $0.660 fails to hold.
Bulls Hold Ground Above $0.663, But Momentum Needs Fresh Fuel
Technically, Pi’s ability to sustain levels above the former resistance at $0.663 signals strength, especially with higher lows still intact. However, waning momentum, evident from multiple MACD death crosses and RSI’s drop into neutral territory, suggests that bulls may need renewed volume or news-driven momentum to push past the $0.675 peak. If $0.660 continues to hold as support, a retest of $0.675 followed by a possible PI breakout toward $0.688–$0.695 remains on the table.
However, a failure to defend $0.660 could trigger a pullback toward $0.645 or even $0.631. On the news front, while the Pi Core Team’s wallet activity offers short-term relief, its sustainability remains uncertain. A halt in accumulation could reverse sentiment, making the upcoming Pi coin price structure critical.
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