Pi Network (PI) Price: Can Bulls Push Through $2 Barrier Before Major Token Unlock?

• Pi Network (PI) price dropped around 12% amid broader crypto market decline, currently trading at $1.39-$1.79.
• Nearly 282 million PI tokens worth $390.93 million are scheduled to be unlocked over the next 30 days, with major unlocks on March 17 and March 21.
• Analyst Rose Premium Signals suggests PI could reach $3.5-$3.6 if it holds crucial $1.05 support.
• Technical analysis shows strong resistance at $2, with breakout potential to $2.0364 or possible dip to $1.5682.
• Real estate firm Zito Realty LLC has started accepting PI as a payment option, expanding real-world use cases.

Pi Network’s cryptocurrency has experienced substantial price fluctuations in recent days, drawing attention from traders and analysts alike. The token is currently testing key support and resistance levels as the market prepares for significant token unlocks in the coming weeks.

PI’s price has retreated approximately 12% in the latest trading session. The token is currently trading between $1.39 and $1.79, depending on the exchange. The 24-hour trading volume has shown mixed signals, with some reports indicating a 104% increase to $977.58 million while other data shows a 40% decline.

The recent price drop comes amid a broader crypto market downturn. Investors appear to be taking a cautious approach ahead of upcoming US Consumer Price Index (CPI) data. The release is expected to provide insights on inflation trends that could impact risk assets.

Market watchers have noted that PI touched a low of $1.25 and a high of $1.59 within a 24-hour period. This volatility has sparked discussions about potential causes behind the price movements.

Some community members pointed to large transfers from the Pi Core Team (PCT) Wallet as a possible trigger for the selloff.

Dr. Altcoin observed that nearly 90 million PI tokens moved out of the Core Team Wallet on March 7, followed by another 36.4 million tokens the next day.

PiScan, a blockchain tracking platform, has dismissed concerns about these transfers. They clarified that most outflows were routine distributions to users with varying lock-up periods, stating:

“These outflows are not related to the recent price decline.”

A more pressing concern for PI holders is the upcoming token unlocks. PiScan data reveals that 282 million tokens, worth approximately $390.93 million at current prices, are scheduled to enter circulation over the next 30 days.

The largest unlocks are scheduled for March 17 and March 21, with more than 23 million PI set to be unlocked on each day. This increase in supply could create additional selling pressure on the market.

Technical analysts have identified key price levels that may determine PI’s next move. Rose Premium Signals highlights the $1.05 support zone as crucial for maintaining bullish momentum. The analyst suggests that if this level holds, PI could target resistance between $2.40 and $2.60.

➡️ #PiNetwork ( $PI) Analysis#Pi Network is showing signs of consolidation near a key Fibonacci retracement level📊

➡️ Key Observations:

The price is currently hovering around the 1.05 support zone, a critical area for potential bullish reversal 📈

Fibonacci levels indicate… pic.twitter.com/ERnd5sKQU4

— Rose Premium Signals 🌹 (@VipRoseTr) March 6, 2025

A break above these levels could potentially push PI toward $3.00 and eventually $3.60, according to Rose. “A strong bounce from support could confirm a bullish continuation,” the analyst noted.

Another analyst, Zenith Zoro, points to $1.9948 as a key resistance level on hourly charts. A breakout above this threshold could push PI to $2.0364 in the short term. However, rejection at this level might lead to a dip toward $1.5682 as bearish pressure increases.

On-chain data shows the relative strength index (RSI) at 61, placing it in the upper neutral zone. This, combined with decreased trading volume, suggests that traders have been selling the coin, reducing the bullish momentum needed to break above the $2 resistance.

Liquidation charts indicate traders had been optimistic in both long and short positions. However, price volatility has forced many to exit their positions over the past two weeks. The long-short ratio currently stands at 0.83, suggesting bearish momentum in the market.

Despite short-term challenges, PI has made progress in expanding its real-world use cases. Real estate firm Zito Realty LLC recently announced it would accept PI as a payment option for homes. This development could enhance PI’s appeal to investors seeking cryptocurrencies with practical applications.

With Pi Day (March 14) approaching, market participants are watching for potential positive updates from the project team. Additionally, speculation about a possible listing on Binance has fueled interest in the token.