- PI price edged higher on Tuesday as buyers tested resistance above $0.16.
- Balances of PI on centralized exchanges fell by more than 700,000 tokens over the past 24 hours.
- The technical outlook for PI is mixed amid an overall bearish market mood.
Pi Network’s token has shown relative resilience despite wider weakness across the cryptocurrency market, with price action revisiting resistance near $0.16 even as Bitcoin and several leading altcoins have posted losses.
PI reached its intraday high on a modest increase in daily trading volume, while on-chain data points to a notable decline in PI holdings on centralized exchanges (CEXs), a development that can reduce immediate selling pressure.
The rebound from intraday lows around $0.13 on February 11 indicates some buying interest, but to sustain an upward trajectory PI must extend gains past the current resistance band to shift the advantage decisively toward buyers.
Because overall crypto sentiment is still fragile, a failed test of resistance or profit-taking could trigger a downward reversal.
More than 700,000 PI leave centralized exchanges
Data from PiScan shows CEX balances have dropped sharply over the last 24 hours, with over 778,000 PI withdrawn from platforms including OKX, Bitget and MEXC. These outflows point to holders moving tokens off exchanges, which often signals accumulation and reduces immediate liquidity available for selling.
Such withdrawals can support price stability by limiting the supply available to traders, and they suggest conviction among long-term holders. Net outflows of this size are generally interpreted as accumulation rather than distribution.
If buyers build on this reduced exchange supply and overall market conditions improve, the price could be pushed higher. Conversely, declining market confidence would likely limit upside potential regardless of exchange flows.
The exchange outflows coincide with activity related to Pi Network’s Open Network expansion. The project has accelerated KYC verifications and facilitated mainnet migrations, moves that are often viewed positively by investors because they advance network utility and readiness.
The Pi Core Team has highlighted milestones such as publishing details on the Ecosystem Token Design, and community input via Pi Request for Comment (PRC) proposals has been part of recent ecosystem development. These governance and design updates are contributing to investor interest and confidence.
Technical outlook for Pi Network
Despite the intraday strength, PI remains down roughly 9% over the past week. It is also lower across the month and year-to-date periods, with declines near 11% and 20%, respectively. The longer-term technical picture therefore remains cautious.
Technical indicators present a mixed message: momentum oscillators are broadly neutral, while moving averages skew toward a “strong sell” reading. On the daily chart, the MACD appears to be signaling a bearish crossover, but the RSI sits near 46, which leaves room for a rebound if buying pressure returns.
Key levels to watch: a sustained move above $0.15, supported by higher volume, could allow bulls to target resistance near $0.18 and then $0.27. Holding above $0.15 would be an important short-term constructive sign.
On the downside, failure to hold key support and renewed selling pressure below $0.15 could expose PI to a retest of the $0.13 area, which marked the intraday low on February 11. A decisive break beneath that level would increase downside risk.
Overall, PI’s near-term performance is likely to track broader risk-on sentiment in crypto markets. Macro and geopolitical developments, liquidity conditions, and how the wider industry trades will remain important catalysts for the token’s direction in the coming weeks.