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.
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[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.
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