Pi Network's native token (PI) faces conflicting market forces as it trades near $0.44, barely 9% above its all-time low of $0.40. The token plunged 22% monthly and 10% in two sessions, breaking below critical $0.45 support. Bearish sentiment dominates with a weighted score of -0.558, while 24-hour volume slumped 38% to $60.8 million.
Significant token unlocks intensify selling pressure: 304.7 million PI ($152M) began unlocking July 4, with another 10.8 million PI release scheduled for July 28. The Pi Foundation itself sold 7.96 million PI recently, contributing to exchange net inflows of 704,237 PI as holders prepare to sell. Technical indicators flash warning signals, including RSI in the high 30s and MACD below zero with expanding red bars.
Despite this, technical patterns suggest potential reversal. A double-bottom formation at $0.4010 with neckline at $1.6656 implies 275% upside if activated, while a falling wedge pattern reinforces bullish potential. Catalysts include the Altcoin Season Index at 55, rumors of tier-1 exchange listings, and ecosystem growth via Pi AI Studio applications. Immediate support lies at $0.437, with breakdown risking retest of $0.40 ATL. Bulls require sustained recovery above $0.46 to target $0.51.