Pi Network (PI) price is trading in the red on Tuesday, extending the 2% decline from Monday. The monthly unlock of roughly 170 million PI tokens in May raises concerns about additional supply, as mounting bearish momentum after a failed recovery on Sunday risks a lower leg.
Monthly PI token unlock could boost bearish pressure
Monthly token unlocks in the Pi ecosystem raise the available Know Your Customer (KYC) verified supply in the market. PiScan data show that 169.80 million PI tokens are scheduled to be unlocked in June, which could add to selling pressure on Centralized Exchanges (CEXs) as investor demand appears low amid the ongoing decline.
Technical outlook: Will the PI token price hit a new lower leg?
Pi Network trades below $0.1450 at press time on Tuesday, maintaining a bearish near-term bias. The PI token extends a bearish reversal after a mild 3% recovery on Sunday, which now threatens Thursday’s low at $0.1412.
PI also holds below the 50-period Exponential Moving Average (EMA) on the 4-hour chart at $0.1467, the 100-period EMA at $0.1507, and the 200-period EMA at $0.1578, suggesting that rallies are likely to be capped. Meanwhile, momentum indicators echo the bearish tone as the Relative Strength Index (RSI) is at 39 on the same chart, indicating subdued demand, and the Moving Average Convergence Divergence (MACD) is drifting slightly into negative territory below its signal line.
Looking down, a slip below $0.1412 could test the S2 Pivot Point at $0.1357, followed by its all-time low of $0.1310.
On the topside, initial resistance is seen at the May 18 low of $0.1463, near the 50-period EMA at $0.1467, with further hurdles at the 100-period EMA at $0.1507, where a break would be needed to ease broader downside pressure.
(The technical analysis of this story was written with the help of an AI tool.)
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