Pi Network (PI) is trading at around $0.120 on Friday after a modest recovery the previous day. Despite this recent rebound, traders should be cautious as a scheduled unlock of 14.8 million PI tokens on Friday could limit the token’s recovery potential by increasing market supply. Meanwhile, the technical outlook is showing early signs of fading bearish momentum, suggesting a short-term bounce.
Token unlock could cap PI recovery
Pi Scan data shows that 14.8 million PI tokens are scheduled to unlock on Friday. This token unlock could cap PI’s recovery potential by increasing market supply.
Pi Network Price Forecast: Fading bearish strength
Pi Network trades at $0.120 on Friday after a mild rebound the previous day. However, the long-term bias is bearish, as PI is holding well below the 50-day, 100-day, and 200-day Exponential Moving Averages (EMAs), clustered between roughly $0.150 and $0.210.
PI remains trapped under a dense Fibonacci retracement band starting at the 23.6% level at $0.137. At the same time, the Relative Strength Index (RSI) near 33 only hints at mildly oversold conditions rather than a firm rebound. The Moving Average Convergence Divergence (MACD) line has flattened around the zero mark, suggesting downside pressure is easing but not yet reversing the broader downtrend.
On the topside, initial resistance emerges at the horizontal barrier of $0.132, followed by the broken descending trendline region near $0.134 and then the 23.6% Fibonacci retracement at $0.137. Above these, sellers are likely to reappear toward the 38.2% retracement at $0.149 and the 50-day EMA at $0.150, with subsequent caps at the 50% retracement at $0.159, the 100-day EMA at $0.164 and the 61.8% Fibonacci retracement level at $0.168.
On the downside, the main support remains the prior swing low and the Fibonacci anchor at $0.118; a sustained break below this floor would expose fresh downside and reinforce the prevailing bearish bias.
(The technical analysis of this story was written with the help of an AI tool.)
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