Pi Network (PI) has experienced a slight uptick, approaching the $0.1900 mark at the time of writing on Friday, while also nearing the important resistance zone around $0.1919. However, selling pressure has increased as over 5.50 million PI tokens have been deposited into centralized exchanges (CEX), reflecting a wavering investor confidence. Technically, PI’s outlook remains uncertain, as the key resistance barrier continues to hinder the price’s recovery efforts.
Large Deposits to CEX Indicate Investors Are Taking Profits
Data from PiScan shows approximately 5.52 million PI tokens have been deposited into Know-Your-Business (KYB) compliant CEXs within the past 24 hours — a clear sign of a strong profit-taking wave from the PI holding community. This development indicates a short-term decline in confidence, suggesting that expectations around the one-year milestone may have already been priced in early. If this assessment is correct, latecomer investors, especially those near the short-term rally peak, are at high risk of becoming “trapped.”
PI Balance on CEX | Source: PiScan
Will Pi Network’s PI Token Price Break Above $0.20?
At the time of this article on Friday, Pi Network is fluctuating around $0.1900, facing significant resistance near the daily low of October 11 at $0.1919. Notably, this zone previously served as a critical support area in late October and December before being broken.
The short-term recovery, shaped like a V pattern, is currently stalling as the price has yet to reclaim the important resistance level mentioned above, increasing the risk of a short-term reversal downward. In a negative scenario, if the price drops below the 50-day exponential moving average (EMA) at $0.1776, a double-top signal would be confirmed, opening the door to a deeper correction toward the support zone at $0.1533 — coinciding with the October 10 low.
Daily PI/USDT Chart | Source: TradingView
Conversely, technical indicators still show some positive signals. The relative strength index (RSI) on the daily timeframe is at 62, reflecting a fairly strong recovery momentum and increasing buying pressure, although the market has not yet entered overbought territory. Simultaneously, the MACD line and signal line continue to trend upward since their crossover on Friday, with the histogram bars expanding, indicating strengthening bullish momentum.
For a genuine recovery to take hold, PI needs to close decisively above the $0.1919 level. If this scenario occurs, the price could target the December 19 high at $0.2177 in the near future.
SN_Nour
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