By Nermeen Nabil Khear 
TLDR
- Pi Network’s price has fallen 25% over the past week to $1.38
- Token unlocks of 272 million Pi coins ($543 million) expected in the next 30 days
- Critical support level at $1.19; breaking below could push price under $1.00
- Chaikin Money Flow remains in bearish zone, showing continued investor outflows
- Potential Binance listing and Pi Day (March 14) announcements offer hope for recovery
Pi Network has experienced a steep 25% drop in price over the past week, with the cryptocurrency now trading at $1.38. This decline comes after reaching an all-time high of $3 earlier this year, highlighting the volatile nature of this emerging digital asset.
The current price sits below the key resistance level of $1.43. Market analysts point to several factors behind this decline, including broader cryptocurrency market weakness and waning investor confidence.
Investors appear to be pulling their funds out at an increasing rate. The Chaikin Money Flow (CMF) indicator confirms this trend, showing that outflows have dominated the market for several days.
This technical indicator has remained firmly in the bearish zone. With limited new money flowing in, Pi Network faces an uphill battle to reverse its downward trend.
The Moving Average Convergence Divergence (MACD) indicator adds to the bearish outlook. Consistent red bars on the MACD histogram signal negative momentum that has persisted despite occasional enthusiasm around the token.
Market watchers have identified $1.19 as a critical support level for Pi Network. Should the price break below this threshold, further declines could follow quickly.
Some analysts suggest that failure to hold this support could see Pi plummet below the psychologically important $1.00 mark. This could potentially lead to an extended drop toward $0.76, deepening losses for investors.
Token unlock events are adding pressure to Pi’s price stability. According to PiScan data, approximately 272 million Pi tokens worth $543 million will be unlocked over the next 30 days.
Daily token unlocks currently average 9.05 million Pi ($18.11 million). However, much larger unlocks are scheduled for March 17 and March 21, when 23.1 million and 23.4 million tokens will enter circulation, respectively.
These substantial token unlocks could flood the market with new supply. Many traders are exercising caution ahead of these events, concerned about increased selling pressure.
Positive Signs?
Not all indicators point downward, however. On the 4-hour timeframe, the MACD shows signs of potentially turning bullish. This shift could encourage buyers to return and attempt to break above the $1.50 resistance.
The cryptocurrency has shown relative resilience compared to market leaders. While Bitcoin fell 2.3% and Ethereum dropped over 8% during the same period, Pi’s stability suggests some underlying strength.
Industry developments offer additional reasons for optimism. Zito Realty LLC recently announced it would accept Pi as a payment option, potentially boosting real-world adoption.
Perhaps most significantly, speculation about a potential Binance listing continues to grow. With Pi Network now ranked 11th by market capitalization, a listing on the world’s largest cryptocurrency exchange could dramatically improve liquidity and price action.
The community is also looking forward to Pi Day on March 14, when the development team may make important announcements. These catalysts could help Pi recover lost ground if positive news materializes.
For now, traders are closely watching the key resistance level at $1.50. Breaking above this mark could signal the end of the current correction phase and potentially spark a relief rally toward $1.80 and beyond.
The post Pi Network (PI) Price: 25% Weekly Crash, Can it Recover? appeared first on Blockonomi.
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This articles is written by : Nermeen Nabil Khear Abdelmalak
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