Pi Coin’s Potential Breakout: Is a Bottom Formation Imminent?

Recent trading data indicates that Pi Coin is currently hovering around $0.3658, registering a 2.96% gain in the past 24 hours despite a 3.26% drop for the week. Its market capitalization stands at $2.88 billion, with daily trading volume nearing $76 million. While it remains trapped within a downward channel, recent price action suggests a consolidation along a flat support level, while the descending resistance line continues to compress the range.