Pi Network Price Analysis: Can PI Withstand 9M Daily Token Unlocks Amid Volatility?

Pi Network’s price volatility remains a hot topic as the token oscillates between bullish technical patterns and bearish market forces. Currently priced at $0.84 following a 28% drop, Pi had briefly rallied to $1.56 earlier this week before retreating.

Technical indicators reveal underlying strength despite the pullback. The asset has broken through both its 50-day moving average and Bollinger Bands upper limit - classic signals of potential upward movement. This comes after PI recorded an impressive 151% weekly gain on CoinGecko before correcting.

The crypto community is split as Pi Network approaches a 275 million token unlock. This scheduled release raises concerns about market absorption capacity, especially with approximately 9 million tokens becoming liquid daily.