The cryptocurrency PI, used within the Pi Network, is currently trading around $0.17 after a rally to nearly $0.30 in mid-March. Analysts suggest that breaking a key resistance level could lead to significant price movement, while upcoming token unlocks and increased exchange deposits present potential headwinds.
The native cryptocurrency of Pi Network has lost momentum after an impressive mid-March revival. Data from CoinGecko shows it now trades near $0.17, a 12% decline over two weeks following a peak near $0.30.
Some market observers remain optimistic about a potential resurgence. X user Buzz Builder recently predicted a “big pump is coming,” while analyst ALTS GEMS Alert argued that overcoming the $0.20 level may lead to a price explosion toward $0.40.
Technical analysis indicates possible upward momentum. The asset’s Relative Strength Index currently stands around 35, which is close to oversold territory often associated with rallies.
However, not all signals point upward. Data shows over 207 million coins will be unlocked in the next 30 days, with a record 18.2 million released on April 9. Additionally, approximately 1.3 million PI were transferred to exchanges in the last 24 hours, bringing total exchange balances to 475.2 million, a move often seen as a prelude to selling.
