- Pi Network price has dropped 15% this week, with technical indicators suggesting the downtrend may continue as selling pressure mounts.
- Despite recent token unlocks and bearish signals, the project’s new $100 million Ventures fund aims to build long-term value through real-world applications.
Pi Network (PI) has taken a hit this week, shedding 15% of its value and sparking concerns among investors about further losses. Currently trading at around $0.6894, Pi has slipped 6% just in the past 24 hours alone, continuing a downward trajectory that has erased much of the early-year gains.
After reaching a high near $3 back in February, Pi Network’s coin has dropped over 75% from its peak, struggling to find steady momentum. May started off on a hopeful note, with the price surging nearly 200% in days to hit $1.67, but that optimism quickly faded as a sharp decline set in, dragging prices down into a tight range between $0.688 and $0.816.
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Interestingly, trading volume has surged more than 42% in the last day to over $158 million, indicating active market participation despite the price slump. Yet, on-chain data reveals increasing token inflows to exchanges, signaling mounting selling pressure. This is compounded by the scheduled unlocking of a substantial number of tokens—263 million in June, 233 million in July, and 132 million in August—which could flood the market further.
Technical indicators paint a bearish picture. Key moving averages—10, 20, 50, and 100-day EMAs and SMAs—all hover above the current price, reinforcing downward pressure. The tightening Bollinger Bands suggest volatility is settling, but with PI trading near the lower band, sellers still dominate.
Momentum gauges like the Moving Average Convergence Divergence (MACD) remain negative, while the Awesome Oscillator sits in the red, both pointing to continued downside momentum. The Relative Strength Index (RSI) at 43.6 signals weak bullish conviction, and although the Stochastic RSI is deeply oversold at 2.77, no clear reversal signs have emerged.
The Average Directional Index (ADX) stands at 29.9, just shy of 30, indicating the strength of the downtrend may be waning but is still significant. If Pi Network can break above the $0.75–$0.78 resistance zone, it might signal a shift in sentiment. If not, the $0.60 and $0.50 levels are critical supports to watch.
Despite the bearish technical setup and short-term challenges, Pi Network is pushing forward with long-term ambitions. The recent launch of a $100 million Pi Network Ventures fund aims to back projects in e-commerce, fintech, gaming, and AI, signaling a focus on real-world utility. However, until these fundamentals translate into stronger demand, the price outlook remains cautious for traders and investors alike.
