Pi Network (PI) Price Prediction: July Brings the Largest Token Unlock, PI Faces Selling Risks

Today, Pi Network (PI) continues to struggle below $0.50 after six consecutive bearish K-lines. From a technical perspective, a bearish trend is evident in the market just days before the largest token unlock in July, and after the Pi2Day announcement, market sentiment remains gloomy.

Pi Network's largest Token unlock in July

PiScan data shows that on July 4th, 19.2 million PI tokens will be unlocked, setting a record for the largest unlock amount this month. Typically, token unlocks increase market supply, thereby increasing the potential risk of sell-offs in the days following the unlock.

(Source: PiScan)

According to a previous report from FXStreet, the total amount of tokens unlocked continuously in July reached 268.4 million PI tokens, the highest monthly unlocking volume until October 2027.

AI-driven no-code Pi App Studio launched on Pi2Day

On Saturday, Pi Network launched the Pi App Studio at the highly anticipated Pi2Day event, a no-code platform designed to enhance its ecosystem. The network also introduced the ecosystem directory staking feature, which boosts application rankings by staking Pi tokens on the mainnet. Despite several other minor updates, the Pi2Day announcement still failed to improve the spot market performance of Pi Network.

PI Price Analysis: Facing Further Loss Risk, Falling to 0.40 USD

FXStreet analyst Vishal Dixit stated that as of Wednesday's publication, the PI price has risen by over 1%, after the company experienced a consecutive six-day fall. Last week, PI surged to a peak of 0.6667 USD, before giving back gains, with the weekly increase capped at 5.94%.

As the downward trend approaches the lowest price of $0.4711 on June 22, if the daily closing price falls below this level, the decline may extend to $0.4000, a support level that has been tested twice on April 5 and June 13.

It is worth noting that the daily closing price below $0.5031 marks the lowest closing price since February, increasing the likelihood of falling below $0.4711.

Moving Average Convergence/Divergence ( MACD ) indicator shows that the MACD line has crossed below its signal line, triggering a sell signal.

The Relative Strength Index (RSI) is 36, nearing the oversold boundary, indicating increased selling pressure.

If the market recovers, PI may reverse to the price level of $0.6600 marked by the lowest price on May 17 with a lower shadow candle.

(Source: Trading View)