Pi Network (PI) under pressure – $0.21 and a critical support level in sight

PI Price Struggles to Reach the Psychological 0.20 Level

Pi Network (PI) is trading at $0.21 today, with a 24-hour decrease of 0.84%. The price is in a critical phase: the previous day’s closing price was just above 0.2000 USD, but market selling pressure is noticeably increasing. This price movement indicates that investors should closely monitor the upcoming trading days.

CEX Inflows Show Classic Sell Signals

A particularly telling sign of potential downside risk: in the past 24 hours, approximately 1.90 million PI tokens have been transferred to centralized exchanges (CEX). Market analysts typically interpret such inflows as a precursor to selling waves. The logic is simple: long-term holders usually store their coins in personal wallets. Those who want to sell must first transfer the tokens to an exchange. If this migration trend continues, there is a high probability that any technical rebound will be immediately sold off again.

Momentum Loses Steam – Technical Picture Becomes Critical

The 20-day Exponential Moving Average (EMA) at 0.2092 currently acts as an invisible resistance wall. The 50-day EMA is at 0.2166 and also serves as a supply hurdle. This classic pattern – price being rejected from above – suggests that the bullish momentum is waning:

Momentum Indicators in Focus:

• RSI at 48: The Relative Strength Index falls below the 50 line, giving sellers an advantage. There is still room to move lower before the indicator enters oversold territory.

• MACD Shows Weakness: The Moving Convergence Divergence indicator is moving sideways, with green histogram bars gradually shrinking. This signals that bullish strength is diminishing. If the MACD crosses below the signal line, it would be the next clear warning sign.

Critical Levels for Traders and Investors

Support Zones (Support):

• 0.1996 USD: This level marks the low from October 11 and forms an initial support line right at the 0.20 psychological mark.
• 0.1842 USD: The September 22 low represents the next substantial support zone if 0.20 is broken.

Resistance Zones (Resistance):

• Above 0.2166 (50-Day EMA): A sustained regain of this level could push PI toward 0.2295 – a level last tested on December 5.

The coming days will reveal whether Pi Network (PI) can overcome these challenges or if selling pressure continues to increase.