Pi Network’s price fell to a new all-time low after intense token unlock pressure and poor market liquidity led to another wave of selling across the ecosystem.
summary
- Pi Network price fell to a new all-time low near $0.126 as traders interacted with more than 163 million PI tokens scheduled to be unlocked in June.
- Weak liquidity and a sell-off in the cryptocurrency market that led to liquidations of more than $1.6 billion added pressure on the token.
- A confirmed break below the falling wedge pattern and loss of the key support of $0.13 has put the $0.10 level under traders’ focus.
According to data from crypto.news, the Pi Network (Bye) The price traded near $0.130 on June 5 after falling to a new record high of around $0.126. The coin has now lost more than 30% over the past month, continuing a downtrend that has persisted since its March rally faded.
The main source of pressure still comes from the network’s token issuance schedule. Data from Biscan It shows that over 159 million PI tokens are still scheduled to be traded this month, with average daily opens of over 5 million tokens. The largest single-day open is expected to be on June 11, when nearly 16 million PI will become available for trading.
The additional supply comes at a time when market liquidity remains weak. Daily trading volume has fallen below $20 million across major exchanges, leaving the token vulnerable to large sell orders from early miners and long-term holders who recently completed KYC verification and mainnet migration.
Outside the Paye ecosystem, sentiment across digital assets has deteriorated sharply. Bitcoin (Bitcoin) briefly fell to an intraday low near $61,550 on June 4, while Ethereum (Ethereum) fell below $1,800.
CoinGlass data shows that the sell-off led to the liquidation of more than $1.6 billion across leveraged cryptocurrency positions, reducing appetite for speculative altcoins and adding further pressure on Pi Network’s price.
Network activity presented a mixed picture. CiDi Games recently launched a Developer Center alongside four new games designed to attract developers and users into the Pi ecosystem.
Whale activity has also attracted attention in recent weeks, although these developments have so far failed to offset concerns surrounding the rising supply of cryptocurrencies.
Whale Hunter’s recent X post highlighted the sharp rebound that followed the previous PI’s drop to $0.128.
The analyst added that buyers are starting to return to the market and said a break above $0.20 could spark renewed momentum.
The collapse of the falling wedge opens the door to lower prices
As crypto.news previously I mentionedPi Network price was approaching a decisive test of the falling wedge support on the daily chart. Buyers failed to defend this level, allowing sellers to force a breakdown that eventually pushed the token to a new record low around $0.126.
The decline also pushed the PI below the psychological support area of ​​$0.13, a level that has repeatedly attracted buying interest in recent months. Although the token managed to recover part of the loss, the crash left the market focusing on whether the next wave from the June open could trigger another move lower.
Technical indicators are still heavily tilted to the downside. The PI continues to trade below supertrend resistance at around $0.151, while price action remains well below its key short- and medium-term moving averages. The chart has also produced a series of lower highs and lower lows since March.
Meanwhile, the MACD remains in the bearish zone, with the MACD line remaining positioned below the signal line. Although the chart bars are starting to contract, buyers have not yet generated enough momentum to reverse the prevailing trend.
The June token is opening to keep the $0.10 level in focus
The most important support now is near the recent bottom between $0.126 and $0.13. A decisive break below that area would put the price index into a new price discovery zone and expose the psychologically important $0.10 level.
Token unlocks remain the primary risk factor throughout the month. The entry of new supply could increase exchange flows and intensify selling pressure, especially if cryptocurrency market sentiment remains weak.
On the upside, the bulls will first need to reclaim the previous breakdown area near $0.14 before attempting a move towards supertrend resistance around $0.15. Above that, the next notable resistance area is between $0.18 and $0.20, where multiple recovery attempts failed during the month of May.
Until buyers digest the upcoming opens and reclaim key resistance levels, the chart structure continues to favor sellers, with the $0.10 threshold emerging as the next major downside target for the market.
Disclosure: This article does not constitute investment advice. The content and materials contained on this page are for educational purposes only.
