Pi Network (PI) from 0.18 USD: Resilient support zone amid strong selling pressure

Pi Network (PI) is trading at $0.18, down 8.89% in the past 24 hours, showing a significant difference compared to previous sessions. In Vietnam, this price corresponds to about 4,500 VND, reflecting the current exchange rate. Despite short-term adjustments, PI remains in an important support zone at $0.1533 — a level established from the October 10 bottom. However, selling pressure is increasing considerably, creating many challenges for any recovery efforts in the near future.

Market sensitivity to Pi Network is understandable. This token faces a series of structural obstacles that investors need to watch carefully.

Capital inflows: Warning signals from blockchain data

Data from PiScan reveal a clear pressure picture. In just the past 24 hours, over 2.16 million PI tokens have been transferred to centralized exchanges (CEX), bringing the total PI holdings on these platforms to 432 million tokens — about $70.80 million. Such large inflows are not normal and clearly reflect growing concerns among the investor community.

On the other side, periodic token unlock schedules continue to exert significant pressure. In February, 32.36 million PI tokens were released, and this number is expected to jump to 154.07 million in March. This steady and continuous unlocking creates a polluted supply flow, making it harder than ever to maintain the price.

Technical indicators: Can Pi Network break free from the downtrend?

On the daily timeframe, the technical picture for PI remains concerning. The RSI is currently at 47, continuing to hover below the neutral 50 level after weakening significantly from the 62 peak on February 17. This suggests that demand is gradually declining, while selling pressure still dominates.

Additionally, the MACD line, although still above the signal line, shows the positive histogram bars shrinking rapidly. This increases the risk of a bearish crossover soon, which could push PI downward in the short term.

However, not all is bleak. If PI can break above the 50-day EMA at $0.1749, it could open a path for a sustainable recovery. The next step would be to conquer the resistance zone at $0.1919 — the area where the downward trendline connecting the August 30 and February 15 peaks converges.

If PI manages to break through this barrier, the market could open up new growth potential. In this scenario, the price might approach the $0.2613 level, corresponding to the bottom formed on September 23 last year.

Negative scenario: Risks if support levels break

On the other hand, if PI loses the critical support at $0.1538, the price could test lower levels. The next target might be the historic bottom at $0.1300, set on February 6. Such a decline would represent about a 28% correction from the current level, a drop that is acceptable but not desirable for investors.

In summary, Pi Network (PI) is at a decisive stage. With the current price at $0.18 (about 4,500 VND), the token still holds key support zones, but the pressures from unlock schedules and capital inflows remain threats to monitor. Investors should closely follow technical indicators and on-chain data to better understand PI’s direction in the coming weeks.