Pi Network's token (PI) is trading at $0.44, teetering near all-time lows with a 26% monthly decline eroding its $3.4 billion market cap. Technical indicators reveal conflicting signals: the Supertrend indicator has flashed red since mid-June, hovering above price action at $0.5450 resistance, signaling sustained bearish control. This aligns with exchange inflows of 5.7 million PI within 24 hours, suggesting ongoing selling pressure.
However, a hidden bullish divergence emerges as PI's Relative Strength Index (RSI) forms higher lows near oversold territory at 36, contrasting with price making lower lows. This technical mismatch hints at accumulating buying momentum. Further optimism stems from PI's double-bottom pattern at $0.4087 and a falling wedge formation—both historically bullish reversal structures. Fundamental headwinds include daily token unlocks, with 130 million PI entering circulation this month, increasing supply to over 8 billion tokens. Unlocks are projected to slow to 139 million (August), 117 million (September), and 93 million (October).
Key price thresholds dominate the narrative: failure to hold $0.42 support risks a 10% crash to $0.40, while reclaiming the $0.47 Fibonacci level could trigger recovery targeting $1.00. Ecosystem developments like Pi AI Studio and new staking mechanisms for dApp promotion offer long-term catalysts, though exchange listings remain speculative.