A High-Pressure Anniversary for Pi Network
What was supposed to be a symbolic week for the “Pioneers” community of Pi has turned into a sequence of extreme tension. On the occasion of the Open Network’s first anniversary, investors were hoping for a bullish rally validating the project’s maturity. Instead, the market recorded a brutal correction, with a weekly drop of more than 6%, followed by a new decline of 4% at the beginning of the week.
The trigger comes from on-chain data relayed by PiScan. In just four days, nearly 200 million Pi tokens were deposited on centralized exchange platforms (CEX). In the crypto ecosystem, such an influx of liquidity to exchanges is generally perceived as a massive sell signal. Holders are anticipating a further decline.
To make matters worse, wallets associated with the Foundation recorded an additional outflow of approximately 50 million tokens in 24 hours. Even though no official announcement has confirmed an intention to sell. The market interpreted these movements as possible dilution pressure, accentuating fear and fueling volatility.
Technical Analysis: Towards a Break Below $0.13 or Technical Rebound?
From a chart perspective, the situation remains fragile. The token is trading in the $0.16 – $0.17 zone, in immediate proximity to its All-Time Low (ATL) located around $0.13. The market structure remains clearly bearish, with a succession of descending peaks and troughs confirming seller dominance.
The critical threshold to watch is the support at $0.1533. A break on daily close would open the path to a quick return towards $0.13. Or even a new phase of price discovery in uncharted territory. Technical indicators are not showing any bullish divergence for now, and momentum remains solidly anchored on the bears’ side.
In this context, strategy divides investors. The most cautious fear a final capitulation. While contrarian profiles are considering buying the dip in hopes of a technical rebound if the $0.15 support holds. However, without a strong catalyst like a token burn or a major strategic announcement the risk of a new bearish leg remains very present in the short term.
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