Pi Network's (PI) price is currently under pressure, with bears challenging the $0.47 support level. This decline follows a period where Pi Network reached $0.6667 before experiencing a reversal, marking the sixth consecutive day of losses. Several factors contribute to this bearish trend, including an upcoming major token unlock in July and muted sentiment following the Pi2Day announcements.
From a technical analysis perspective, the Moving Average Convergence/Divergence (MACD) indicator suggests a potential bearish crossover, as the declining MACD line nears its signal line. Additionally, the Relative Strength Index (RSI) is approaching oversold territory, indicating increased selling pressure.
Pi Network launched two new features on Pi2Day aimed at improving user engagement and platform functionality. These include a no-code AI app builder and ecosystem directory staking. The ecosystem directory staking allows users to stake their PI to support their favorite apps. However, the Pi Network itself does not offer staking rewards; any incentives are up to the third-party app developers.
Despite these innovations, the value of Pi Coin has dropped, influenced by market dynamics and user reactions. The largest token unlock of the month is scheduled for July 4, with 19.2 million PI tokens set to be released. Successive token unlocks in July will account for a total of 268.4 million PI tokens, which is the highest monthly unlock until October 2027. This increase in available supply could further pressure the price of PI.
If the bears manage to break below the $0.4711 support, the next target could be $0.4000, a level tested twice before. A daily close below $0.5031 would mark the lowest closing price since February 20, increasing the chances of a breakdown below $0.4711. To signal a potential reversal, Pi Network must avoid closing below the $0.5031 mark. In such a scenario, PI could target the $0.6600 price level.
Despite the current bearish outlook, some analysts remain optimistic about Pi Network's long-term potential. There are reports of increased whale activity, with one buyer purchasing 290 million Pi tokens over three months.
Predictions for Pi Coin in 2026 are mixed. If Pi gets listed on major exchanges, the price could average between $2.25 and $3.5 by 2026. However, if adoption remains slow and the community fails to expand real-world uses, the price could hover around $20–$30 per coin.
Currently, Pi Coin trades around $0.507. CoinCodex forecasts that Pi Network will trade between $0.366756 and $0.531893 next year. In a more bullish scenario, if Pi Network follows the same growth pace as Bitcoin between 2009 and 2021, it could reach $390.82 in one year.
