Pi coin has lost the important threshold of 0.45 USD! Analyst: 5 key signs indicate that the price is about to rebound.

Pi Network (PI) today (15th) reported a price of 0.4473 USD in the European morning session, falling below the important threshold of 0.4500 USD, which is an 11% decrease from this month's peak, contrasting with the trends of Bitcoin and many other altcoins that have risen over 10%. The overall market capitalization of Crypto Assets exceeds 3.68 trillion USD, but Pi coin is facing pressure.

The main reason for this decline is the issuance of new tokens. According to data from PiScan, the network will unlock 145 million tokens worth 67 million USD during the remaining time in July. In August, 138.5 million tokens will be unlocked, in September 117 million tokens will be unlocked, and in October 93 million tokens will be unlocked—all of which will increase the supply of these tokens.

The selling pressure has intensified, with investors withdrawing 1.4 million PI tokens from the exchange in the past 24 hours.

Supply Pressure Highlights:

1. In July, 145 million coins will be unlocked, worth 67 million USD;
2. Unlock 138.5 million coins in August;
3. Investors recently withdrew 1.4 million tokens from the exchange.
4. An increase in supply means downward pressure;
5. Centralization concerns lead to the suspension of exchange listings.

A major issue facing the Pi Network is centralization. The Pi Foundation's wallet holds tokens valued at over $33 billion, but these tokens are unaudited, so transparency is a concern. This level of control is uncommon in decentralized crypto projects, and exchanges are hesitant about it.

Mainstream exchanges have not yet listed PI coin, citing centralized risks. During the market bull period, low trading volume further reflects investors' cautious attitude.

The 24-hour trading volume of PI coin is approximately $80 million, far lower than other meme coins such as Pepe (PEPE), Shiba Inu (SHIB), and Bonk (BONK).

PI coin price analysis

According to FXLeaders analyst Arslan Butt, despite the recent fall, on a technical level, Pi is about to experience a reversal. The price has formed a double bottom support level at 0.4056 USD, and a key resistance level at 1.6664 USD, which has appeared for the first time since May.

The chart of PI coin also shows a descending wedge, which is a bullish reversal pattern, as the converging trend lines indicate that a breakout is imminent.

The MACD indicator is bullish. If the PI coin breaks through 1 USD, it could rise to 1.666 USD. However, if it falls below 0.4056 USD, this bullish scenario will be invalidated. This decline is driven by token unlocks and centralization, but technically, it indicates an accumulation phase before a big move. Pay attention to support and resistance levels.

(Source: Trading View)