Pi Network Tests Key Support Level as Bullish Momentum Fades

Pi Network's price action shows increasing fragility, with technical analysts noting the cryptocurrency must break above the $0.40 threshold before establishing a base for meaningful recovery. The token hovers near historic lows as bullish defenders struggle to maintain a critical support zone.

Ecosystem developments—including developer tools and app integrations—have failed to generate sustained buying interest. The temporary boost from June's Pi2Day celebrations highlighted this trend, with speculative enthusiasm quickly fading post-event. Market participants appear to be pricing in these developments faster than they can translate into fundamental demand.

July brings additional pressure with 276 million Pi tokens entering circulation, representing 3.7% of the existing supply. This unlock risks worsening the current supply-demand imbalance, potentially testing the patience of long-term holders.