Price Prediction for Pi on May 7: Weak Structure Causes Pi Network to Stay Below 0.60 USD

Pi Network is currently trading around $0.578, falling nearly 1.5% on the day and continues to show a weakening market structure across multiple time frames. After failing to sustain the breakout above the range of $0.60–$0.63, the price of Pi Network has returned to a sideways zone with flat momentum and lower volume activity. In the past 10 days, the price has remained locked in a narrowing triangle with gradually lower highs and lows, forming a clear downtrend line that is currently acting as dynamic resistance near $0.59. Although the Pi Network price has occasionally spiked, the lack of bullish confirmation has reinforced the bearish trend ahead of May 7. The 4H Chart and Intraday Show a Rejection of a Price Fall at $0.60

On the 4-hour chart, the price action of Pi Network continues to oscillate below the psychological threshold of $0.60. The price action has repeatedly failed to break this level, with a clear rejection along the descending trend line from the April highs. The latest breakout attempt once again did not last, with Pi falling back into the $0.577–0.588 zone. A price drop breakthrough occurred during the trading session on May 6 when the price broke below the gradually rising short-term support line. The lower Bollinger band is currently expanding downward, confirming that the price volatility of Pi Network is increasing amid rising selling pressure.

The 30-minute chart further highlights this incident, as Pi failed to maintain the ascending wedge structure and dropped back below the pivot level of $0.5841. Currently, this has become an immediate resistance level for the buyers. Unless Pi rises above $0.592, the momentum will favor a retest of $0.572 and potentially $0.556. Why Did the Price of Pi Network Fall Today

Some momentum indicators signal a further fall trend. The RSI on the 4-hour timeframe is at 37.5 and trending down—close to the oversold level, but has not yet signaled a bullish reversal. The MACD chart has also completely shifted to negative territory with a prolonged bearish crossover since May 1, reinforcing the downward trajectory. The Bollinger Bands are still tight but with a slight downward slope, while the moving averages (EMA 20/50/100) are aligned in a bearish order. On higher time frames, the price remains firmly below the EMA 100 near $0.617, indicating that the price update of Pi Network is still weak from a structural perspective. Unless the token strongly regains important resistance levels, the path of least resistance remains down. Price Prediction for Pi Network on May 7 For May 7th, the forecast remains cautious with the short-term falling trend. If the Pi Network price closes below the support level of 0.577 dollars, the next key zone is at 0.556 dollars, with stronger capitulation potentially pulling it down to 0.532 dollars. However, a recovery above $0.588 followed by a break above $0.592 could temporarily reverse the situation and shift the target towards $0.60–$0.6293. A daily close above this level will invalidate the descending triangle and open the door for a broader reversal. Forecast Table: Pi Network Price Outlook on May 7