Pi Network’s native token took another move south over the past week, and certain indicators suggest that a more painful decline could be on the way.
Others, though, suggest a short-term rebound is also a plausible option.
The Bullish Case
PI was among the top-performing cryptocurrencies in mid-March, with its price soaring to a five-month high of almost $0.30. Some of the catalysts fueling the rally included numerous protocol updates, community enthusiasm from PiDay 2026, and Kraken’s decision to enable trading services for the asset.
However, the upward momentum was short-lived, and the coin headed south in the following days. As of this writing, it trades at around $0.19 (per CoinGecko’s data), representing a 6% decrease on a seven-day scale.
PI’s Relative Strength Index (RSI), though, hints that the token might be gearing up for a renewed resurgence. The technical analysis tool measures the speed and magnitude of recent price movements and helps traders identify reversal spots. It ranges from 0 to 100, with ratios below 30 indicating oversold conditions and potential for a rally, while anything above 70 is considered bearish territory. As of press time, the token’s RSI stands at around 31.
Another encouraging signal comes from market sentiment: PI currently ranks as the cryptocurrency with the second-most bullish sentiment on CoinMarketCap. This shows that traders and investors remain optimistic and highly interested in the asset, a trend that often supports buying pressure and increases the chances of a short-term recovery. The cryptocurrency with the highest bullish sentiment today is Kaspa (KAS), whereas popular altcoins like Pepe (PEPE), Shiba Inu (SHIB), and Ethereum (ETH) are well below PI.
The Bearish Outlook
Despite the positive signals, there are also some warning signs that suggest PI might not be done falling just yet. The first one is the rising amount of coins stored on cryptocurrency exchanges.
Data shows that the figure has risen by more than 2 million over the past 24 hours alone and now stands at almost 473 million. The majority of the tokens (251 million) are held by Gate.io, while Bitget comes second with roughly 144.6 million. Kraken, which only recently listed PI, accounts for only 1% of the total. While this development doesn’t necessarily guarantee a price pullback, it is often seen as a pre-sale step.
Next on the list are the upcoming token unlocks. The end of March and start of April are shaping up to be turbulent, as tens of millions of PI are set to hit the market on several occasions. The total unlocks scheduled for the next 30 days equal 154.2 million, making the average daily number around 5.1 million. Again, this doesn’t mean a correction is inevitable, but it clearly increases selling pressure.
The post 2 Bullish and 2 Bearish Signals for PI as Pi Network’s Price Slips 6% Weekly appeared first on CryptoPotato.
