Pi Network Chart Flashes Bullish Reversal Signals – But Can It Overcome Token Unlock Pressure?
Pi Network's price action is teasing traders with early reversal patterns—just as another wave of token unlocks threatens to drown the rally before it starts.
The Bullish Case:
Technical setups hint at a potential trend reversal, with key indicators flashing green for the first time in months. But here's the catch...
The Unlock Overhang:
Continuous token releases keep adding sell pressure, turning every uptick into a game of whack-a-mole for hopeful bulls. Because nothing says 'decentralized' like insiders cashing out on schedule.
Watch the volume. If Pi can absorb these unlocks without new lows, we might have a real fight on our hands. Otherwise? Just another crypto pretending bear markets don't apply to them.
Source: TradingView
Currently trading around $0.4575, PI price is hovering around new support level around $0.45 established after the recent breakdown from the $0.50–$0.52 zone. If the divergence plays out, this zone is the immediate resistance level to watch, where trapped longs from the previous breakdown may create selling pressure. If bullish momentum picks up, PI price could target a relief rally towards $0.65, aligning with the spike on June 25.
However, it’s important to note that Pi Network still faces significant token unlock pressure this month. According to PiScan, a total of about 219 million PI will be unlocked throughout July, with the day-one unlock on July 4 already releasing 19.2 million PI into circulation. This influx represents roughly 4 % of current circulating supply, and the large volume of to-be-unlocked tokens could trigger further sell pressure.
