The post Pi Network Price Shows Signs of Recovery as Unlock Rate Cools appeared on BitcoinEthereumNews.com. Pi Network price could be a coiled spring ready to pounce after spending the last few months in a narrow range. This rebound could happen soon as the pace of its token unlocks is set to slow down substantially in the coming months.  Pi Network Price to Benefit From Falling Pace of Token Unlocks One reason why the Pi Network price has crashed by over 90% from its highest level in February is its continued token unlocks, which will continue in the coming years. The pace of token unlocks has been in an uptrend since its mainnet launch in February, and the network will unlock 190 million tokens this month. On the positive side, the pace of unlocks will continue slowing through June next year. Data compiled by PiScan shows that the network will unlock 121 million tokens in January, a figure that will continue falling until it hits a low of 76.3 million in June this year. Pi Network Unlocks Token unlocks are usually bearish for cryptocurrencies as they normally increase the number of tokens in circulation, which in turn leads to high inflation. Therefore, a decline in Pi Network’s pace of token unlocks will be a good thing for the price. This decline will come at a time when Pi is having some notable tailwinds. One of these tailwinds is its recent investment in OpenMind, which accelerated its pivot to the booming artificial intelligence industry. In a statement this week, OpenMind said that it had entered a partnership with Circle, the creator of the USDC stablecoin. The partnership will see the two companies create a foundational set of machine-to-machine payments.  Its statement noted that the two companies will bring USDC-powered micropayments to life and shape the infrastructure of autonomous AI transactions. While the statement did not mention Pi…

The post PI could drop below $0.22 amid a strong bearish trend: Check forecast appeared on BitcoinEthereumNews.com. Key takeaways PI is down 2% in the last 24 hours and could drop below $0.22 if the bearish trend continues. The technical outlook indicates short-term risk. PI could dip lower amid poor technicals Pi Network (PI) has been underperforming over the past three days and risks dropping below a critical support trendline. The on-chain data indicates an increase in supply pressure as Centralized Exchanges (CEXs) experience a surge in inflows.  Data obtained from PiScan reveals that user deposits over Pi Network’s Know Your Business (KYB)-verified CEXs totaled 2.75 million PI tokens in the last 24 hours. The deposit is far greater than the withdrawals of 1.76 million tokens. Thus, indicating a daily net inflow of CEXs, suggesting that investors might be selling some of their stash.   Will Pi Network drop below the $0.22 support line? The PI/USD 4-hour chart is bearish and efficient as PI has lost 2% of its value in the last 24 hours. The cryptocurrency is retracing toward a local support trendline formed from the October 22 and November 4 lows.  At press time, PI is trading at $0.2267, with a bearish trend currently in play. The technical indicators are bearish, suggesting further downward movement. The RSI of 37 shows that PI is heading into the oversold region if the trend continues. The MACD lines are also within the bearish region. If the trend persists, PI could decline below the Monday low of $0.2204, with another major support just around the $0.1919 region.  However, if the bulls regain control, PI could reclaim last week’s high at $0.2841. An extended bullish run would allow PI to eye the August 1 low at $0.3220. However, the current market conditions remain bearish, with PI expected to underperform over the next few days. Share this article Categories Tags Source: https://coinjournal.net/news/pi-could-drop-below-0-22-amid-a-strong-bearish-trend-check-forecast/

The post Pi Price Under Pressure—Is the $0.20 Support About to Fail? appeared first on Coinpedia Fintech News The Pi price action is flashing early warning signs as the token slips beneath a key trading range, threatening to deepen the correction that began after multiple rejections near $0.29. While the market remains in a consolidation phase, the structure is weakening, and Pi now sits at a make-or-break point that could define its December …