Pi Network Price Prediction: Will PI depeg and the market fall to 0.2372 USD?

As the Crypto Assets market gradually recovers, Pi Network (PI) unexpectedly shows an independent downward trend. The latest data indicates that selling pressure continues to rise, with the core team and investors significantly reducing their holdings, leading to further pressure on the price of PI coin. Can PI stop its fall and stabilize? Or will it continue to set new historical lows? This article takes you deep into the analysis of the current situation and future risks.

Dumping wave hits: Foundation reduces holdings and CEX wallet balances surge

According to PiScan data, in the past 24 hours, the Pi Foundation has sold 2.53 million PI tokens, exacerbating market panic. At the same time, the wallet balance of centralized exchanges (CEX) surged to over 401 million PI, accounting for 5.16% of the circulation. Among them, Gate exchange holds the most, reaching 193 million. This phenomenon usually means that more investors choose to transfer tokens to exchanges, preparing to take profits or stop-loss sell, further increasing the selling pressure.

The technical outlook is completely bearish, and historical lows are at risk.

As of the time of publishing on Monday, the price of PI coin has fallen by about 2%, failing to break through the S1 pivot point of 0.3642 USD, which has turned from support to resistance. The short-term target points to the historical low of 0.3220 USD set last Friday, close to the S2 support of 0.3191 USD. Once this level is lost, the price is likely to slide further to the critical S3 level of 0.2372 USD.

Technical indicators are also releasing strong bearish signals. The MACD indicator has generated a sell signal, with the red histogram extending, and the MACD line crossing below the signal line. The daily RSI has fallen to 25, deeply entrenched in the oversold region, indicating that the dumping momentum remains strong.

Key for Short-term Rebound: Can 0.4000 USD Be Reclaimed?

If PI wants to reverse the downturn, it must regain the important $0.4000 threshold. This price level was once a significant support, but now it has become a resistance. Only by clearly recovering this level can it hope to break the continuous falling pattern, attract bullish funds back, and restart the recovery trend.

Conclusion

Pi Network has recently 'decoupled' from the overall market recovery trend, with the core team reducing their holdings and a surge in CEX wallet balances undermining market confidence. Technical indicators show that if the current support cannot be maintained, the price of PI coin may further drop to 0.2372 USD. Investors need to closely monitor dumping dynamics and changes in key price levels, and respond cautiously to potential risks.