Key takeaways
- PI has fallen 2.3% and is now trading below $0.1700.
- Investor confidence is weakening as centralized exchanges recorded roughly 2 million PI tokens in inflows over the past 24 hours, signaling increased near-term selling pressure.
Pi Network (PI) traded below $0.1700 on Monday, extending a slow decline as the token remains range-bound. The market appears to be in a consolidation phase, with limited bullish momentum to push PI significantly higher.
Data from on-chain trackers shows nearly 2 million PI tokens flowed into centralized exchanges over the last 24 hours, indicating rising sell-side activity amid a broader risk-off sentiment across crypto markets.
Selling pressure persists amid geopolitical tensions
Pi Network has come under sustained downward pressure, reflecting wider market caution prompted by heightened geopolitical tensions after peace talks between the United States and Iran in Pakistan broke down. The escalation, including a U.S. blockade of maritime traffic through the Strait of Hormuz, has reduced overall investor risk appetite.
On-chain analytics from PiScan reveal that approximately 1.92 million PI tokens were moved to centralized exchanges in the past day, suggesting that KYC-verified mainnet users may be trimming positions and contributing to selling momentum.
Community attention is focused on Consensus 2026, taking place May 5–7 and hosted by CoinDesk. Pi Network co-founder Chengdiao Fan is scheduled to speak on May 6 about combining Web3, AI, and blockchain for practical applications. This appearance could spark a short-lived “buy the hype, sell the news” reaction, potentially creating a brief rally before renewed selling.
PI could experience further selling pressure
Technical indicators on the PI/USD 4-hour chart point to a bearish bias. PI is trading below both the 50-period and 100-period Exponential Moving Averages (EMAs), which sit near $0.1800 and $0.1898 respectively, signaling that the short- and medium-term trend favors sellers.
Momentum tools support this outlook. The Relative Strength Index (RSI) is around 44, below the neutral 50 level and indicative of persistent bearish momentum. The Moving Average Convergence Divergence (MACD) also displays slightly negative histogram bars, reinforcing downside pressure.
Immediate support is at $0.1556, the low printed on February 23. A decisive break under that level could expose PI to further declines inside the prevailing bearish structure.
Conversely, a recovery scenario would require bulls to push PI above the 50-period EMA at roughly $0.1800. A daily close above that level would be an early sign of strength and could set the stage for a move back toward the 100-period EMA near $0.1898. Until that happens, traders should prepare for continued volatility and potential downside risk.