Pi Network (PI) Price Prediction: Pi's bullish momentum is fading, and a large amount of tokens unlocking may fall below the 0.43 USD support.

The bullish momentum of Pi Network (PI) is rapidly fading, with today's (25th) Asian early trading reporting at 0.4433 USD, re-testing the key support level, erasing the gains that reached 0.50 USD earlier this week. The token balance on CEX has surged, indicating an increase in dumping ahead of the unlocking of 10.8 million Pi coins on Monday. The technical outlook shows a surge in bearish momentum, suggesting further declines.

Before 10.8 million Pi coins are unlocked, CEX wallet balances surge

PiScan data shows that as of yesterday, the net inflow of wallets in centralized exchanges (CEX) was 704,237 Pi coins, with Gate.io holding over 194 million Pi coins, while the total wallet balance of CEX is 401 million. Typically, an increase in dumping pressure leads to an increase in CEX balances, as traders or teams take profits.

PiScan data shows that on next Monday, 10.8 million Pi coins will be unlocked, marking the highest unlocking volume in the next 30 days, with a total unlocking volume reaching 171.25 million, worth 75.91 million USD. Typically, a surge in Token unlocking volume may intensify dumping pressure, as traders may take profits.

(Source: PiScan)

As the bearish momentum strengthens, the Pi Token faces the risk of losing the 0.43 USD support level

Pi coin held the support level of 0.4371 USD, which previously served as the bottom of the consolidation range, marked in green on the 4-hour price chart. PI is struggling to break through this key support level, showing a longer upper shadow, while the path of least resistance suggests a downward trend.

If the closing price definitively falls below 0.4371 USD, it may test the low of 0.4204 USD set on July 15 or the support level of 0.4000 USD (the last test was on June 13).

As the red histogram bars strengthen, the Moving Average Convergence Divergence (MACD) falls below the zero line, indicating an increase in bearish momentum.

Nevertheless, the relative strength index (RSI) on the 4-hour chart is still at 40, indicating that buying pressure has significantly decreased. A drop below 30 indicates that the Pi coin has entered an overbought state, which may increase the likelihood of a reversal.

In order to reopen the bullish market, the Pi Token bulls must reclaim the 200-period Exponential Moving Average (EMA) at $0.4950, which could extend the upward trend to $0.5430.

(Source: Trading View)