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Pi Network continues to experience sideways trading as market participants prepare for a significant token unlock, which could result in increased selling pressure.

Current Pi Network Price Performance

As of now, Pi Network is trading at $0.7504, reflecting a modest 0.2% gain in the last 24 hours. Over the past week, the token has fluctuated between $0.7406 and $0.8586, remaining 74% below its all-time high of $2.99, recorded in February.

Despite the price stagnation, trading volume has shown an uptick. In the last 24 hours, Pi Network recorded over $145 million in trading volume, marking a 16.2% increase compared to the previous day. This suggests a cautious yet renewed interest among traders and investors.

Upcoming Token Unlocks and Potential Impact

Market attention is currently focused on the upcoming wave of token unlocks. Recent data shows that 10 million PI tokens were unlocked on May 26, followed by another 12 million on May 27. The largest single-day unlock in the short term is scheduled for May 28, when 15 million tokens will enter circulation.

Looking ahead, additional unlocks are planned for the coming months, with 263 million tokens set to be released in June, 233 million in July, and 132 million in August. On-chain data reveals an increasing trend of token holders transferring their assets to centralized exchanges, potentially signaling heightened sell-side pressure as the token supply increases.

Efforts to Build Long-Term Value

Amid these developments, Pi Network is actively working to create long-term utility for its token. The recently launched $100 million Pi Network Ventures fund aims to support startups in sectors such as AI, gaming, fintech, and e-commerce. These initiatives are designed to foster real-world use cases for the token, which could help rekindle investor interest over time.

Technical Analysis: Narrow Trading Range

From a technical perspective, Pi is trading within a narrow Bollinger Band range, with the lower band at $0.53 and the upper band at $1.15. This suggests low volatility and a potential coiled setup, which often precedes a breakout. However, the direction of the breakout remains uncertain at this stage.

Momentum indicators are largely neutral. The relative strength index (RSI) stands at 48.36, indicating a lack of clear direction, while the stochastic RSI at 18.16 suggests short-term oversold conditions. The MACD has crossed below its signal line at 0.0047, reflecting bearish momentum.

Key Resistance and Support Levels

  • Strong resistance levels: $0.85, $1.00, and $1.15
  • Key support levels: $0.74–$0.75, $0.70, $0.65, and $0.53 (lower Bollinger Band)

If Pi Network breaks above $0.85 with strong volume, the price may move toward $1.00 or even $1.15. Conversely, failure to hold the $0.74–$0.75 support range could lead to a decline to $0.70 or lower, especially if selling pressure intensifies due to the increasing supply from token unlocks.

Market Outlook

While the near-term outlook for Pi Network remains uncertain due to the substantial token unlocks and potential sell-side pressure, the project’s efforts to create utility through venture funding and decentralized application development could provide long-term value. Monitoring market sentiment, trading volume, and price action will be critical for investors navigating this evolving landscape.

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