Prices for Pi Network have significantly decreased since their peak in May, but recently there are signs of a potential recovery.
Price Decline of Pi Network
Since the price of the Pi Network token peaked at $1.67 in May, it has gradually bled lower, losing over 70% of its value over the past two months. The price has recently stabilized around $0.45.
Signs of Reversal
A bullish RSI divergence is appearing on the daily chart, suggesting a potential price trend shift. Despite the price action making fresh lows in late June and early July, the RSI has begun printing higher lows, indicating a waning bearish momentum. This classic divergence setup often precedes trend reversals or short-term relief rallies.
Unlock Pressure on Tokens
Pi Network still faces significant token unlock pressure this month. A total of about 219 million PI will be unlocked throughout July, with the day-one unlock on July 4 already releasing 19.2 million PI into circulation. This influx represents roughly 4% of the current circulating supply, and the large volume of to-be-unlocked tokens could trigger further sell pressure.
Despite signs of potential recovery, Pi Network will face significant challenges from token unlocks, which may impact future price dynamics.
