As the PI price struggles to hold onto the $0.61 support level, investors are questioning whether Pi Network is on the brink of a dramatic rebound or another decline. Stay tuned for the in-depth analysis. Pi Network Under Pressure : Towards a Breakdown of the $0.61 Support ?
For the past few weeks, the PI token price of Pi Network has been hovering around a critical threshold of $0.61. For many crypto analysts, this zone constitutes a major technical support level. It is further reinforced by consolidation in the $0.60 to $0.65 range.
Flip side of the situation: despite a 5.2% increase in the last 24 hours and a 6.9% rise in trading volume to $139.4 million, the trend remains uncertain. Pi Network is currently trading below its moving averages: on the 50-day at $0.7978; on the 10-day at $0.6236. Staying below these thresholds suggests a lack of sustainable upward momentum.
However, the Bollinger Bands are showing a tightening, which could indicate an imminent price movement. Breaking through the technical resistance at $0.65 could potentially open the way to the key level of $0.70. Mixed Technical Signals The RSI of Pi Network is currently at 42.7.
It remains below the 50 mark but above the oversold zone. This reflects an uncertain market where buyers are starting to regain ground without having yet reversed the dominant trend. The MACD, on the other hand, indicates a potential buying opportunity.
That said, the lack of confirmation on other fronts leaves room for doubt. Regarding the overall sentiment, caution prevails in the crypto market even though long-term forecasts are optimistic. In this regard, CoinCodex anticipates a potential 227% increase in the PI price, reaching $2.02 by the end of May.
PI/USDT Fundamentals to Monitor for the Future of Pi Network Beyond the technical aspect, the future of Pi Network also hinges on its fundamentals. To date, over 12 million users have been migrated to the mainnet. However, the mainnet migration is not yet finalized.
To support this approach, the leadership team has unveiled a roadmap that prioritizes: processing referral bonuses; implementing periodic migrations. For now, no precise timetable has been provided. A Mainnet migration roadmap based on the network’s priorities is now available.
https://t.co/fFqpZcgA8M The roadmap outlines how first migrations, second migrations with referral bonuses, and ongoing migrations on a regular basis will be prioritized in that order. The blog also… — Pi Network (@PiCoreTeam) April 18, 2025 Another factor not to overlook is token supply. Out of the planned 100 billion, only 6.7 billion are in circulation.
With around 130 million new tokens expected monthly this year, the risk of dilution is real if demand does not keep pace. Nevertheless, significant events could revitalize the Pi Network ecosystem. These include founder Nicolas Kokkalis’ speech at Consensus 2025 this month.
Announcements regarding new dApps or the validation of “Know Your Business” certificates could also act as catalysts. In any case, Pi Network seems to be at a crossroads today. Bullish signals are emerging cautiously, but fundamental pressure remains strong.
The coming weeks will be decisive, both technically and in terms of blockchain development. More on this topic :
