Pi Coin Price Forecast: Tight Consolidation Signals explosive PI break-through ahead

As more tokens are unlocked and more mainnet migrations are completed by PI token holders, PI's circulating supply has been fast growing. This is the element favoring a bearish Pi price forecast.

According to the monthly unlocking plan of the project, around 455 million tokens will be introduced in May and June while 223 million PI will be included to the circulating supply this month. This suggests a merely two-month supply expansion of 6.5%.


The unwillingness of major exchanges like Coinbase and Binance to list PI as they fail to follow the intricate Know Your Business (KYB) procedures has further impacted the prospects of the coin.

With the upper and lower band of the indicator being the narrowest they have ever been since the Pi Network public mainnet was created, the popular indicator known as the Bollinger Bands indicates significant price compression.

Given the token has gone over the upper Bollinger with significant trading volumes, the price action seems to point toward a favorable future.

A break over the $0.6000 level would indicate a positive future for Pi; the token's closest lower low, $0.5700, now provides the main support to monitor.

In the hourly chart, momentum indicators also point to a positive future as the Relative Strength Index (RSI) has been heading upward and right now above its 14-day simple moving average (SMA).

The MACD's histogram is still in positive territory however, and it has been rising upward recently as well.

Should PI surpass its 200-hour EMA, this would validate a strong bullish push capable of driving the token to the $0.7000 range.

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