The Pi Network had a great start this month, but it didn't last long. The currency has dropped over 75% from its February peak, which was around $3, currently settling at $0.6894, down 6% in the past twenty-four hours and 15% over the week.
Pi currency is stuck in a narrow range with bearish trends.
The price of Pi is currently trading in a narrow range between $0.688 and $0.816, hovering above major support levels. Despite the price drop, trading volume increased by 42% in the past day to reach $158 million. However, on-chain data reveals an increase in trading flows, indicating that more Pi tokens are ready to be sold, with 263 million Pi tokens to be issued in June, 233 million in July, and 132 million in August.
The currency trend is still bearish, with all major moving averages (the exponential and simple moving averages for 10, 20, 50, and 100 days) above the current price. The Bollinger Bands are narrowing, and the Moving Average Convergence Divergence (MACD) is negative. The Relative Strength Index (RSI) is also neutral at 43.6. Unless Pi breaks through the resistance range between $0.75 and $0.78, the next major support levels are $0.60 and $0.50.
If buying volume rises, it may retest the range of $0.85-$0.85. However, on the other hand, it may remain stable between $0.70 and $0.76 until May 31.
Will the price of Pi rise above $1?
As the first half of the year approaches its end, Pi may face further selling pressure if fear and doubt dominate the market. This could push the price into the range of $0.58-$0.65 in the short term. According to CoinDCX, if buyer interest returns and trading volume increases, there is a chance of a bounce back towards the $1.00-$1.20 level. If the momentum continues, it may end June at $1.82.
The price of Pi is likely to continue declining until the end of August, after which it may begin to recover gradually. I previously predicted it would drop to $0.40, unless the core Pi team shows transparency. No investor wants to invest their money in a project rejected by its founders... pic.twitter.com/KEvAwOyhX9
— Dr. Altcoin (@Dr_Picoin) May 28, 2025
Nonetheless, analyst Dr. Altcoin expects the price of Pi to continue declining until August, before gradually starting to recover. He had previously warned of the possibility of it falling to $0.40, unless the core Pi team provides more transparency.
In the long term, the Pi Network strives to build value through its $100 million investment fund, dedicated to real use cases in fintech, gaming, e-commerce, and artificial intelligence. However, for now, the technical picture remains weak until demand improves.