Trusted

PI Network Falls to New All-Time Low—Why the Token Could Slide Even Further

2 mins
Updated by Ann Maria Shibu
Join our Trading Community on Telegram

In Brief

  • PI’s price hit a new all-time low of $0.39, sparking concerns over increased sell pressure and market instability.
  • A 150 million PI token unlock, valued at $64 million, is expected over the next 30 days, intensifying downward pressure.
  • The Relative Strength Index (RSI) at 32 suggests PI is nearing oversold territory, hinting at potential short-term price recovery.
  • promo

PI’s price dropped to a new all-time low of $0.39 during the early hours of Friday’s Asian trading session, intensifying bearish concerns across the market. 

Although it has rebounded slightly to trade at $0.40 at press time, the price dip reflects mounting sell pressure ahead of the 150 million PI token unlock, which will be conducted over the next 30 days.

150 Million PI Tokens Set to Test Market’s Breaking Point

According to data from PiScan, 150 million tokens, valued at $64 million at current market prices, are scheduled to be unlocked over the next 30 days. 

For token TA and market updates: Want more token insights like this? Sign up for Editor Harsh Notariya’s Daily Crypto Newsletter here.

PI Unlock Chart.
PI Unlock Chart. Source: PiScan

Large-scale token unlocks like this exert significant downward pressure on crypto asset prices, particularly in low-demand environments. Unless demand for PI sees a strong and sustained uptick, the altcoin’s downtrend may continue or even accelerate.

Technical indicators paint a similarly bleak picture. The Aroon Down Line, which measures the strength of recent downtrends, currently sits at 100% on PI’s daily chart. This signals that the decline is strong and sellers are firmly in control. 

PI Aroon Down Line.
PI Aroon Down Line. Source: TradingView

Further compounding the bearish outlook is the recent crossover observed on PI’s Moving Average Convergence Divergence (MACD) indicator. Readings from the PI/USD one-day chart show that the MACD line (blue) has crossed below the signal line (orange) during today’s session. 

PI MACD
PI MACD. Source: TradingView

This crossover is a classic confirmation of shifting momentum in favor of the bears, suggesting that selling pressure has decisively overtaken any lingering bullish sentiment.

Pi Slides, But Oversold RSI May Offer Short-Term Reprieve

With a massive token release imminent, PI may struggle to regain footing unless sentiment improves and demand surges to absorb the incoming supply. If demand remains low, PI could revisit its $0.39 all-time low and decline further.

However, there is a catch. PI’s Relative Strength Index (RSI) rests at 32.02, shy of the 30-mark that indicates oversold conditions. 

The RSI indicator measures an asset’s overbought and oversold market conditions. It ranges between 0 and 100. Values above 70 suggest that the asset is overbought and due for a price decline, while values under 30 indicate that the asset is oversold and may witness a rebound.

PI RSI.
PI RSI. Source: TradingView

While this suggests bearish momentum remains dominant, a short-term rebound could be on the cards if buyers step in to defend the current price level. In that case, PI’s price could climb toward $0.46.

Top crypto platforms in the US
Coinbase Coinbase Explore
eToro eToro Explore
COCA wallet COCA wallet Explore
UpHold UpHold Explore
Moonacy Moonacy Explore
Top crypto platforms in the US
Coinbase Coinbase Explore
eToro eToro Explore
COCA wallet COCA wallet Explore
UpHold UpHold Explore
Moonacy Moonacy Explore
Top crypto platforms in the US
Coinbase Coinbase
eToro eToro
COCA wallet COCA wallet
UpHold UpHold
Moonacy Moonacy

Disclaimer

In line with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult with a professional before making any financial decisions. Please note that our Terms and ConditionsPrivacy Policy, and Disclaimers have been updated.

Untitled-1.png
Abiodun Oladokun
Abiodun Oladokun is a Technical and On-Chain Analyst at BeInCrypto, where he specializes in market reports on cryptocurrencies from diverse sectors, including decentralized finance (DeFi), real-world assets (RWA), artificial intelligence (AI), decentralized physical infrastructure networks (DePIN), Layer 2s, and meme coins. Previously, he conducted market analysis and technical assessments of various altcoins at AMBCrypto, utilizing on-chain analytics platforms like Messari, Santiment...
READ FULL BIO
Sponsored
Sponsored