The price of Pi Network is under pressure, consolidating around the $0.60 mark amid weakening momentum and increasing bearish signals. With token volume sharply declining and net inflows to exchanges rising, traders fear a severe downturn may be imminent — potentially retesting the $0.40 level. However, upcoming events like Pi2Day and potential exchange listings could bring a bullish turnaround.

Pi Network price consolidates after 2951% increase

On the launch day of Open Mainnet, PI closed at $0.8705, marking a strong increase of 2951.40% in the first six days. However, since February 27, the momentum has weakened.

  • From February 27 to April 4, PI dropped 81.43%

  • From May 7 to May 13, it recovered 112.96%

  • But a strong sell-off returned onMay 14 and during the period fromMay 14 to May 17, PI dropped another43.63%

Since mid-May, PI has been trading sideways. Last week, the price even dropped to $0.40. Over the past 7 days, the price has decreased by 11.6% and 6.2% in just the last 24 hours.

Currently, analysts warn that if the downtrend continues, PI could drop another 35%, returning to last week's low of $0.40.

The collapse of volume and net flow signals a downtrend

According to the latest data:

  • PI trading volume decreased by 44% in the last 24 hours

  • 6.11 million tokens have been sent to exchanges

  • 3.8 million have been withdrawn

  • Net flow: 2.27 million tokens, indicating significant selling pressure

A sudden increase in deposits on exchanges suggests users are preparing to sell off PI tokens, a warning sign for the buyers.

Technical analysis: Is a collapse or breakout imminent?

Several key indicators are raising bearish warnings:

  • Bollinger Bands: The bands have narrowed, indicating an upcoming breakout. PI is currently below the lower band ($0.5669) — a potential breakout signal if it closes there.

  • ATR (Average True Range): Decreased from 0.1771 (May 16) to 0.0612, indicating low price volatility and creating pressure for a significant move.

  • 50-day SMA: PI is trading well below the 50-day SMA of $0.7074, indicating a lack of bullish momentum.

This combination — narrow Bollinger Bands, low ATR, and price below the 50-day SMA — indicates low volatility before a strong breakout, which could be downward unless a bullish catalyst intervenes.

Key price levels to watch

  • Support: $0.40 (last week's low)

  • Resistance level: $0.8031 (high on May 26)

  • Psychological barrier: $1.00

If PI drops below $0.5669 today, traders may view $0.40 as the next key support level. On the positive side, reclaiming $0.80 could open the door for recovery.

Upcoming catalysts: Pi2Day and exchange listings

Despite bearish indicators, some bullish events could change sentiment:

  1. Exchange listing: Rumors about Binance listing may cause short selling, driving the price up sharply.

  2. Pi2Day – June 28: The Pi Network community will celebrate the progress of the ecosystem. The core team usually makes important announcements on this day, which could spark a new buying wave.

Conclusion: Prepare for volatility

The price of Pi Network is stuck in a low volatility range, with all signs pointing to a significant move. If the current momentum holds, there is a likelihood of a 35% drop to $0.40. However, the announcement of exchange listings or Pi2Day news could reverse this scenario and trigger a bullish reversal.