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PI Network Faces Resistance at $0.40 as Token Unlocks Approach
PI Network Faces Resistance at $0.40 as Token Unlocks Approach
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[TRADE_PLUGIN]PIUSDT,PIUSDT[/TRADE_PLUGIN]
PI News -
PI Network struggles to sustain momentum above the $0.40 level, dropping 3.2% to trade around $0.384. Despite a 5.87% weekly gain, traders remain cautious as significant token unlocks and liquidity concerns loom.
With 167 million Pi tokens—2.1% of circulating supply—set to unlock within 30 days, exchange balances have surged to 411 million tokens, the highest since February 2025. This influx raises concerns about potential sell-offs from early adopters in already thin markets.
The current $66.44 million daily trading volume may prove insufficient to absorb selling pressure without notable price impact. Technical analysis shows PI testing the 23.6% Fibonacci retracement at $0.375, with potential downside to $0.335 if support fails.
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