Pi Network (PI) Price: Token Unlocks Threaten to Push Value Below $1 Mark

Pi Network (PI) Price: Token Unlocks Threaten to Push Value Below $1 Mark

TLDR

• Pi Network price has fallen 23% in a week, currently trading at $1.38
• Upcoming token unlocks of 272 million Pi worth $543 million expected over next 30 days
• Technical indicators show bearish momentum with critical support at $1.19
• Pi shows relative resilience compared to larger market declines in Bitcoin and Ethereum
• Potential Binance listing and Pi Day announcements may provide catalysts for recovery

The Pi Network cryptocurrency has seen its value decline by 23% over the past seven days. The token is now trading at $1.38, well below its all-time high of $3.

This downward movement comes during a broader market correction. Many Pi holders are now watching key support levels with concern.

Current price action shows Pi struggling below the important $1.43 resistance level. After reaching its all-time high, Pi entered a correction phase that briefly took prices as low as $1.20 last weekend.

Market data indicates diminishing buying interest in recent days. The trading volume for Pi has fallen by 46% to $527.7 million in the last 24 hours.

Technical analysis reveals concerning patterns for short-term price action. The Chaikin Money Flow (CMF) indicator remains firmly in negative territory.

This negative CMF reading suggests more investors are selling than buying. Without fresh capital entering the market, recovery becomes increasingly difficult.

The Moving Average Convergence Divergence (MACD) on daily charts continues to display bearish signals. These red histogram bars point to ongoing downward momentum.

However, some analysts note that the 4-hour MACD chart shows early signs of a potential bullish crossover. This could indicate a short-term momentum shift if confirmed.

Market watchers have identified $1.19 as a crucial support level for Pi Network. Breaking below this price point could trigger additional selling pressure.

If this support fails, analysts suggest Pi could fall below the psychologically important $1.00 mark. Some projections indicate a possible drop toward $0.76 if selling accelerates.

Token Unlocks

One major factor weighing on Pi’s price is the upcoming token unlock schedule. Data from PiScan shows that approximately 9.05 million Pi tokens ($18.11 million) are being unlocked daily.

Much larger unlocks are scheduled for March 17 and March 21. These dates will see 23.1 million and 23.4 million tokens unlocked, respectively.

In total, about 272 million Pi tokens valued at $543 million will enter circulation over the next month. This supply increase creates natural selling pressure as newly unlocked tokens become available for trading.

Despite these challenges, Pi has demonstrated relative stability compared to market leaders. During the same period when Pi dropped 23%, Bitcoin fell 2.3% and Ethereum plunged over 8%.

Real-world adoption continues to expand for the Pi ecosystem. Recently, real estate firm Zito Realty LLC announced it would accept Pi as payment for property transactions.

The Pi community is closely watching for potential exchange listing news. Speculation about a Binance listing has grown as Pi’s market cap now ranks 11th among all cryptocurrencies.

Previous Binance community voting showed 86% support for listing Pi on the exchange. A listing on the world’s largest cryptocurrency exchange could dramatically improve Pi’s liquidity and market reach.

Pi Day on March 14 (3/14) is approaching, and community members expect important announcements. The Pi Network team often uses this mathematically significant date for major updates.

Traders are now focusing on the $1.50 resistance level as a key indicator. Breaking and holding above this threshold could signal the end of the current correction.

If buyers can push Pi above $1.50 and establish it as support, a relief rally toward $1.80 becomes possible. Such a move would help reverse recent losses and potentially reignite bullish momentum.

For now, most market participants remain cautious given the mixed signals. The upcoming token unlocks present a major challenge, while potential exchange listings offer hope for price recovery.

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