[Technical Analysis]


Pi Network (PI) Consolidates Near $0.62 Amid Bearish Sentiment – June 6, 2025

As of June 6, 2025, Pi Network (PI) is trading at approximately $0.622, reflecting a slight decline of about 3.8% in the past 24 hours. The price movement remains within a narrow range between $0.6405 and $0.6560, indicating a period of consolidation. 

Technical indicators suggest a bearish outlook. The Relative Strength Index (RSI) hovers around 42, pointing to weakening momentum. The Moving Average Convergence Divergence (MACD) remains in negative territory, and the price is trading below key moving averages (10, 20, 50, and 100-day EMAs and SMAs), reinforcing the downward trend.  

A significant factor contributing to the bearish sentiment is the scheduled unlocking of 276 million PI tokens in June, valued at approximately $176 million. This influx could increase selling pressure, potentially driving the price down to the $0.40 support level. 

Looking ahead, the market is anticipating potential announcements during Pi2Day on June 28, which may influence price movements. Until then, traders should monitor key support at $0.60 and resistance at $0.66, as a breakout from this range could signal the next significant move for PI.

#BTC ETF Accepted as Loan Collateral #June Market Forecast #BlackRock Buys $560M in ETH #PI Network #market analyst
PI0,19%
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • 1
  • Repost
  • Share
Comment
0/400
BIRJAvip
· 06-06 09:07
HODL Tight 💪
Reply0
  • Pin

Trade Crypto Anywhere Anytime
qrCode
Scan to download Gate App
Community
  • 简体中文
  • English
  • Tiếng Việt
  • 繁體中文
  • Español
  • Русский
  • Français (Afrique)
  • Português (Portugal)
  • Bahasa Indonesia
  • 日本語
  • بالعربية
  • Українська
  • Português (Brasil)