Pi Network remained under pressure on Monday as weakening technical momentum and concerns surrounding upcoming token unlocks increased the possibility of another decline toward the key $0.15 support zone.
Summary
Pi Network traded near $0.173 after failing to maintain its rebound from March highs close to $0.30 amid fading bullish momentum.
Upcoming PI token unlocks and a rising circulating supply have fueled concerns about additional selling pressure.
Technical indicators, including a bearish MACD divergence and Supertrend sell signal, suggest PI could revisit support near $0.15 if weakness continues.
According to crypto.news market data, Pi Network was trading around $0.173 on May 11, struggling to extend the recovery attempt that briefly emerged late last month. The token has now dropped significantly from its March peak near $0.30 and continues hovering close to recent lows.
Compared with many large-cap altcoins, Pi Network has underperformed as traders remain cautious about the project’s token supply dynamics and relatively limited exchange liquidity.
One of the biggest bearish factors remains Pi Network’s ongoing token unlock schedule. More than 174 million previously locked PI tokens are expected to enter circulation before the end of the month as additional users complete migration and KYC verification processes.
Large token unlocks often create increased selling pressure because early miners and holders may decide to secure profits after long lockup periods. Unless demand rises at a similar pace, the growing circulating supply could continue weighing on price action.
At the same time, uncertainty remains around broader ecosystem adoption and future exchange expansion. While the Pi Network team continues developing infrastructure and migration systems, many traders appear to be waiting for stronger real-world utility before rebuilding positions aggressively.
Technical indicators point to continued weakness
On the daily chart, Pi Network remains trapped within a broader downtrend after failing to sustain the March breakout rally. The token has continued forming lower highs while struggling to establish lasting bullish momentum.
A developing bearish divergence between price action and the MACD indicator is also becoming increasingly visible. Although PI attempted multiple short-term rebounds in recent weeks, the MACD histogram and signal lines continued weakening, suggesting underlying bullish momentum has steadily faded.
Meanwhile, PI remains below the important 23.6% Fibonacci retracement level near $0.195 and continues trading near the lower end of the retracement range. Failure to reclaim that resistance zone could encourage sellers to maintain control over the short-term trend.
The Supertrend indicator has also turned bearish again, placing resistance around the $0.185 region. As long as price stays below that level, downside risks may continue dominating sentiment.
If selling pressure intensifies further, PI could revisit the major support zone near $0.163, which aligns with the 0% Fibonacci retracement level. A breakdown below that support may expose the token to a deeper correction toward the psychological $0.15 mark.
On the bullish side, buyers would need to reclaim the $0.195 resistance area to invalidate the bearish setup and potentially reopen the path toward the 38.2% Fibonacci retracement level near $0.215.
