Pi Network (PI) Price Prediction: Token Unlocking and Entry Latency Intensifies Dumping, Pi Coin Faces Risk of Falling Below $0.40

The price of Pi Network (PI) is approaching a historical low, currently reported at 0.4064 USD during today's (1st) Asian session. Since mid-May, Pi coin has been in a significant downtrend, and with the unlocking of 160 million tokens in August and the delay of Onramp Money's integration with Pi coin, market sentiment towards Pi coin has tightened, and the technical outlook leans bearish.

The monthly token unlock in August may increase selling pressure

PiScan data shows that 161.6 million Pi coins will be unlocked in August, increasing the circulating supply by 2.09%. This is the largest monthly unlocking of Pi coins since December, with 170.5 million Pi coins entering circulation.

Investors who expect a reversal in Pi coin should temper their bullish expectations, as unlocking events often increase selling pressure, prompting investors to take profits.

Onramp Money delays the official integration of Pi coin

Onramp Money announced on Tuesday that the integration of Pi coin is still ongoing. The company will allow users to purchase Pi coin directly with fiat currency, with an official launch expected in the second or third week of August.

Before the official launch announcement is made on social media, the company urges users to avoid making purchases through Onramp Money. As of Thursday, the Pi Network application has shown Onramp alternatives provided by Banxa and TransFi, but Pi Network has not released any official announcements.

PI faces further fall risk, breaking below the key support level of 0.4000 USD

The Pi Network maintains a bearish trend, having fallen over 17% since July. As of the time of writing this article, PI is approaching the historical low of $0.4000 reached on June 13.

On the daily chart, the Relative Strength Index (RSI) is at 35 and maintains a downward trend towards the oversold boundary, indicating that buying pressure is steadily decreasing and suggesting that there is still some room for price decline. As the Moving Average Convergence Divergence (MACD) approaches crossing below its signal line, investors may increase their bearish exposure. This potential crossover, along with the reappearance of the red histogram, will issue a sell signal.

The decisive factor for falling below the 0.4000 USD level may expand the decline to the S1 pivot level of 0.3837 USD, followed by the S2 level of 0.2585 USD.

Looking up, the PI coin should reclaim the psychological level of 0.5000 USD to eliminate the downtrend.

(Source: Trading View)