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- Pi Network Price Outlook: Pi Holds a Key Support Level Amid Heavy Selling:
Pi Network shows early signs of recovery from its 50-day exponential moving average after two consecutive days of losses.
Slightly more than 5 million PI tokens were deposited to centralized trading platforms within 24 hours, indicating intense selling pressure.
The technical outlook is bearish, with growing pressure on the 50-day exponential moving average at $0.1782.
Pi Network’s token (PI) continued climbing to surpass $0.1800 at the time of writing this report on Friday, reflecting early signs of recovery after two consecutive days of losses. Meanwhile, the massive deposits of more than 5 million PI tokens on centralized trading platforms over the past 24 hours coincided with a 6% drop on the previous day. Technical forecasts point to a downward trend, with the recovery still weak at the 50-day exponential moving average (EMA) at $0.1782.
Investor Confidence in Key Performance Indicator Slips
Pi Network is seeing a decline in investor interest with the launch of the second phase of data migration to the mainnet, which enables additional data transfers from the testnet—allowing PI token holders to deposit their tokens on centralized trading platforms. PiScan data shows deposits of 5.25 million PI tokens on these platforms, signaling an upcoming phase of intense selling among investors.
PI CEX wallet balances. Source: PiScan
$PI
Pi Network showed a short-term rebound above $0.1800 at the time of writing this report on Friday, while holding to a limited range as it stabilizes above the 50-day Exponential Moving Average at $0.1782.
The 100-day Exponential Moving Average at $0.1852 maintains the broader downward trend, even as the Moving Average Convergence Divergence (MACD) indicator remains in positive territory above its signal line, and the Relative Strength Index (RSI) at 53 hovers just above the midline, indicating only modest bullish momentum within a setup that still remains constrained.
On the upside, initial resistance is seen at the 100-day Exponential Moving Average at $0.1852 and the psychological level of $0.2000, while the farther 200-day Exponential Moving Average near $0.2328 represents a key barrier for any sustained rebound.
Daily PI/USD price chart.
On the other hand, the 50-day Exponential Moving Average provides immediate support at around $0.1782, and a clear break below this level would expose the recent price lows and signal that sellers are regaining control despite slightly positive momentum readings.
$PI