Pi Coin (PI) is experiencing a significant decline, trading around $0.44, close to its all-time low (ATL) of $0.40. The weakening correlation with Bitcoin raises concerns about its recovery prospects. Despite potential upward momentum indicated by the Squeeze Momentum indicator, PI faces ongoing selling pressure and risks falling further without strong support. Conversely, increased buying pressure could trigger a recovery if it surpasses the resistance level of $0.45.