Pi slides as sellers maintain command over short-term trend

Traders Union
All News
Crypto
Pi slides 7.37% to $0.121 today

Highlights

Pi Network completed its Protocol 24 mainnet upgrade to improve network scalability, node synchronization, and ecosystem stability.
Further enhancements targeting smart contracts, Web3 capabilities, and physical retail integration are scheduled, aiming to expand real-world utility.
PI/USD trades defensively below key moving averages, with technicals signaling bearish momentum and a likely range of $0.1138–$0.1282 over the next several days.

Ecosystem milestones underscored by ongoing token use case push

On June 3, Pi Network completed its Protocol 24 mainnet upgrade, focusing on enhanced network performance, node synchronization, and overall stability. This development represents a continued effort to address technical scalability and may affect user and developer engagement over time. Further upgrades targeting smart contracts and Web3 capabilities are slated for later in June, while the project's ongoing shift toward physical retail integration has indicated a strategic ambition to increase the token's real-world use cases. These initiatives have provided operational milestones for the ecosystem, though price action has remained under broader selling pressure.

Seller strength persists as price tests technical resistance

PI is currently trading below MA-20 ($0.1257), MA-50 ($0.1304), and MA-200 ($0.1864). The Kijun level from the Ichimoku system at $0.1257 acts as the first line of resistance. Momentum indicators show MACD on a strong sell signal, while ADX points to seller domination. The RSI stands at 39.16 and the CCI is in sell territory, suggesting ongoing pressure but not yet oversold conditions. Stoch RSI, however, is showing signs of a possible short-term bounce. Bull/Bear Power flags clear seller dominance, while the Awesome Oscillator is neutral, presenting a mixed momentum profile.

Further downside likely as volatility and support levels weigh

Over the next two to three trading days, typical volatility could see the price fluctuate between $0.1138 and $0.1282. There is a very high probability of further downside, making any sustained reversal unlikely for now. Baseline expectations call for continued sideways movement with a bearish tilt. If price breaks above $0.1257, a bullish scenario may unfold, while a loss of support near $0.1138 could trigger a fresh leg lower.

Anton Kharitonov, analyst at Traders Union, notes that technicals point to broad selling pressure despite recent network upgrades. He sees ongoing weakness as the price remains below all key moving averages and momentum signals stay negative. The news flow is positive for fundamentals but has not sparked a reversal in sentiment or price action. "Unless $0.1257 is reclaimed, I remain defensive with a bearish bias in the short term."

Previously, analysts noted that Pi remained under sustained selling pressure despite ongoing network upgrades and ecosystem initiatives. The latest data reinforce this bearish outlook, with traders advised to monitor for potential further downside should the $0.1138 support level be breached in the days ahead.

Source of Data: PI Price Analysis by TU

The analysis is based on a proprietary model combining technical, on-chain, and expert data. Not investment advice. See methodology

The information is based on forecasts and does not constitute investment advice or a guarantee of future results. Market conditions may change. See our Disclaimer and Editorial Integrity for details.