Pi Network (PI) has demonstrated a notable price recovery this week, bouncing from a key support level at $0.52 and rallying up to $0.64 before encountering resistance. This rebound was accompanied by a significant increase in buy volume over several days and a bullish MACD crossover, indicating renewed buyer strength.
The uptrend is further bolstered by positive technical indicators. The token has been trading within a falling wedge pattern, often seen as a bullish reversal signal. If PI manages to break past the upper resistance at $0.62 to $0.67 with strong volume, a potential 15% rally could follow.
This optimism arrives ahead of a major announcement scheduled for June 28, dubbed “Pi2Day,” when the Pi Core Team is expected to reveal potential integration of Generative AI (GenAI) features into the ecosystem. Speculation surrounding GenAI integration is one of the main catalysts driving recent buying interest, with PI prices rising 5-6% on June 23-24.
However, investors remain cautious due to the looming release of 268.4 million PI tokens in July — the largest monthly unlock planned until at least October 2027. Large token unlocks typically exert selling pressure, which could temper gains.
Despite the rally, PI remains down roughly 70% from its May highs and 82% below its all-time peak of $2.98 recorded in February. The project still operates on a closed mainnet without a clear timeline for full decentralization, contributing to uncertainty about its long-term utility and value.
Market watchers are closely monitoring trading volume and price movements ahead of the GenAI announcement to gauge whether the rally can be sustained or if another sell-off might occur if the update lacks substantial technical development.