Pi Network’s price rose nearly 20% to around $0.086 on July 15 following an oversold recovery, with improving US inflation data and renewed buying interest combining to lift the token from new highs.
summary
- Pi Network price rose nearly 20% after an oversold rebound and weak US inflation data boosted cryptocurrency sentiment.
- A bullish MACD crossover and higher trading volume have supported the recovery, although the PI remains below the key moving averages.
- July token unlocks continue to weigh on the market despite new Pi2Day products and ecosystem upgrades.
According to data from crypto.news, the Pi Network (Bye) from the $0.070-$0.072 area before hitting an intraday high near $0.086, while the latest US inflation numbers helped fuel a relief rally across the cryptocurrency market.
The move came after several weeks of relentless selling that wiped out nearly 40% of the token’s value and pushed momentum indicators into severely oversold territory, encouraging bargain hunters and short-term traders to return to the market.
Oversold conditions and macro relief have supported the rebound
The recovery gained momentum after Pi’s daily RSI fell to around 15, a level that usually indicates exhausting selling pressure.
Meanwhile, lower-than-expected US consumer price data improved sentiment across digital assets, drawing new liquidity into riskier cryptocurrencies that suffered some of the steepest declines during the recent market correction.
Trading activity also accelerated during the rally, with daily trading volume rising to over $27 million as speculative buyers returned. On the 4-hours chart, Pi also produced a bullish MACD crossover, while the histogram turned positive for the first time in days, indicating weakening short-term bearish momentum.
However, the artistic picture has not yet fully recovered. TradingView data shows that the index remains below all of its major moving averages, including the 50-period, 100-period and 200-period simple moving averages, leaving the prevailing downtrend intact despite the recent bounce.
The symbol briefly reclaimed its 20-period moving average near $0.084 before encountering resistance, suggesting that buyers are still facing selling pressure as the price attempts to recover.
From a price structure perspective, the recent recovery has helped solidify the $0.070 area as an important short-term support area. However, stronger resistance now lies near the 50-period moving average around $0.094, followed by around $0.105 and $0.118, levels that need to be reclaimed before the market begins to reverse the broader downtrend.
Token unlocks continue to weigh on sentiment
While macro conditions helped spark today’s rally, the factors behind the Pi’s prolonged decline remained largely unchanged. Throughout July, the network absorbed a large number Unlocks the scheduled tokenwith approximately 103.7 million to 127 million PI entering circulation. The steady increase in available supply has repeatedly outpaced organic demand, contributing to sharp breaks below the $0.12 and $0.10 support levels.
Meanwhile, capital has continued to flow into AI-related stocks in the US and East Asia, reducing investor appetite for smaller, less-traded crypto assets like Pai. The combination of expanding token supply and weak speculative demand has kept sustained buying pressure limited despite occasional relief rallies.
However, developers have continued to introduce new products aimed at promoting long-term benefit within the ecosystem. recently Pi2Day Versions added decentralized application hosting, SDKs, and an automated KYC verification service that requires payment in PI.
Alongside these launches, there are ongoing core upgrades based on newer versions of the Stellar protocol and continued community speculation surrounding the potential Listings on major stock exchanges Such as Kraken remain among the main narratives that proponents believe could improve demand over time, although the listing of such an exchange has not been officially confirmed.
