PI Token in Holding Pattern Ahead of Pi Day 2: Key Levels to Watch

Pi Network's PI token is trading in a tight range as investors anticipate a potential announcement from the Pi Core Team during Pi Day 2 on June 28. Market activity remains subdued, with traders awaiting clarity that could shift momentum.

Technical analysis indicates the PI/USDT pair forming a symmetrical triangle after pulling back from local highs. A breakdown below $0.38 could trigger a drop toward $0.16, where strong buying interest may emerge. Conversely, breaking above the triangle's upper trendline WOULD signal a bullish reversal.

Community speculation focuses on possible Open Mainnet updates or token utility enhancements during Pi Day 2. Analysts caution that without significant announcements, downward pressure may continue. One positive factor: the slowing rate of PI unlocking by late August could reduce selling pressure.