Pi Network Fights to Maintain Stability Amid Surging CEX Inflows—Can It Recover?

Pi Network's grip slips as exchange inflows spike—pressure mounts for a turnaround.

Centralized exchanges are vacuuming up Pi tokens, testing the network's decentralized ethos. The once-hyped project now faces a brutal stress test: Can it prove its staying power or become another cautionary tale?

Market watchers note the irony—a 'decentralized' project sweating over CEX movements. Classic crypto theater.

The daily chart of the token on the OKX exchange shows that it has remained at a downtrend and had peaked in March. Today, the PI token has a price of $0.4642 with an intraday drop of 1.72%.

The Pi coin price has experienced a rejection at $0.5155 repeatedly. This shows a strong selling pressure for the altcoin at that level. These market sentiments hint at a bearish angle in the shorter time frames.

The Relative Strength Index (RSI) is at almost 38.66, highlighting a weak bullish momentum for the altcoin in the market. Moreover, with the current situation, it could possibly retest its oversold range soon.

The Moving Average Convergence Divergence (MACD) shows a neutral action in the daily time frame. Adding to this, the MACD line as well as the signal line is hovering below zero, indicating the presence of selling pressure in the market.

If the bearish pressure intensifies, the token may test the lower support at $0.25, $0.1020 or even lower in the upcoming time. However, a bullish action may push the price toward its upper price target of $0.8510 in the upcoming time.

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