The decline in Pi Coin continues, but data reveals a more complex picture.

Pi Coin continued its price decline for the third consecutive week, plummeting sharply from its recent local peak. This altcoin is facing difficulties due to weak retail investor demand and a generally cautious market sentiment.

Despite the dominance of selling pressure in previous sessions, current on-chain signals suggest that at least one key factor is improving.

Small investors holding Pi Coin are taking advantage of the opportunity.

The Chaikin Money Flow indicator has been showing a slight upward trend over the past few days. This shift suggests that Capital is starting to flow back into Pi Coin. It appears that many retail investors are considering buying, believing this is an attractive price range for accumulation.

A rising CMF index typically reflects confidence in the market's upward trend. New Capital inflows are key to recovery efforts, as sustained buying power will help absorb selling pressure. If this trend continues, Pi Coin could regain momentum, stabilize, and have a chance to rebound in the short term.

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Despite signs of improving cash flow, macroeconomic indicators remain unclear. The Average Directional Index suggests the recent downtrend is intensifying. A break above 25.0 would confirm selling pressure and further declines could dominate the market.

However, if it fails to break through this level, the downtrend will weaken significantly. At that point, selling pressure may gradually decrease. This would give Pi Coin a chance to recover, especially if buying pressure continues to increase along with market support.

The PI price is likely to fluctuate within a certain range.

Pi Coin is currently trading around $0.203 at the time of writing, holding above the $0.198 support level but remaining below the $0.208 resistance level. The Token has now fallen approximately 28% from its recent local peak of $0.284. The price movement suggests Pi Coin is consolidating sideways, with no clear breakout signs yet.

If the downward trend continues to intensify, Pi Coin is likely to trade within the range of $0.198 to $0.208. Sideways movement within this price range will limit upside opportunities and prolong the recovery period. Prolonged consolidation could also cause retail investors to lose patience amidst market volatility.

The positive scenario depends on continued capital inflow. If accumulation continues, Pi Coin could break through the $0.208 support level. If a successful breakout occurs, the price could head towards $0.217, and then potentially reach $0.224. If this happens, the pessimistic view of Pi Coin will no longer be valid.