Pi Network (PI) Price: Recovery Underway as Token Climbs 30% From Monthly Low

TLDR

Pi token has gained 20% over the last four days, currently trading at $0.84 Daily trading volume surged 150% to $548 million, showing renewed market interest Technical indicators show cautiously optimistic outlook with bulls defending $0.74 support Project faces challenges including mainnet migration delays and limited exchange listings A large token unlock of 1.47 billion PI could increase selling pressure in coming months

---

Pi Network’s native token (PI) is showing signs of recovery after experiencing high volatility in recent weeks. The cryptocurrency, which plunged nearly 50% from May 12 to May 17, has begun to reverse its downtrend on the price charts.

Over the last four days, PI has gained 20%, with a 14% increase in the last 24 hours alone. The token currently trades at $0.84, representing a 30% gain over the past month.

Trading volume has climbed substantially, surging more than 150% to $548 million. This indicates renewed market interest following the recent price drop to $0.69 on May 17.

Data from Coinalyze reveals that bullish conviction is present but not overwhelming in the short term. Open Interest has climbed by 17%, suggesting speculative traders might be willing to go long as short-term performance turns bullish.

PI Aggregated Open Interest Chart:

The funding rate remains just barely above zero. Together, these metrics show that short-term expectations are positive but not overheated.

Technical Analysis Points to Cautious Optimism

On the daily chart, PI has retraced below the 78.6% Fibonacci retracement level based on its rally to $1.6 earlier this month. The token recently breached the $0.745 level, a local high from April, which shifted the market structure in a bullish direction.

The Relative Strength Index (RSI) sits in the neutral range at 54, meaning there is neither an overbought nor oversold condition. Major moving averages for the 10, 20, 30, and 50-day periods are all trending upward.

The Chaikin Money Flow (CMF) has remained above +0.05 over the past ten days, and the Accumulation/Distribution indicator has trended higher as well. These are two signs of high buying pressure, resulting from the trading volume surge on May 11 and 12.

However, zooming in on the 4-hour chart reveals a local resistance zone at $0.9, which appears as a bearish order block. Volume indicators that were firmly bullish on the daily timeframe appear neutral on the 4-hour chart.

Pi Network
PI Price

Project-Specific Challenges Could Limit Growth

Despite the positive price action, Pi Network faces several obstacles that could hinder its recovery above $1. Millions of users remain frustrated by mainnet migration and Know Your Customer (KYC) verification delays, which limit access and transfers, particularly in China.

The token is not listed on major exchanges like Coinbase or Binance. Even though the community voted for a Binance listing, the token has yet to appear on the platform. Pi’s market depth on platforms such as OKX remains below $100,000, restricting its growth potential.

Utility remains a concern. Without significant decentralized finance projects or applications, demand for PI is primarily speculative. A rally to $1.35 just before the $100 million Pi Network Ventures fund announcement on May 14 quickly reversed, demonstrating how fragile sentiment can be without real use cases.

More than 1.47 billion PI tokens are scheduled to unlock over the next year, which could increase selling pressure unless balanced by token burns or rising demand.

If buyers hold support near $0.74 and push through resistance at $0.90, a move back toward $1 is possible, especially if trading volume remains strong. However, if momentum fades and structural problems persist, PI could fall below $0.74 and trigger another downward trend.

Bitcoin’s performance may also influence PI’s trajectory, as BTC is currently setting new all-time highs. This positive market sentiment could help PI break past the $0.9 barrier in the coming days.

The post Pi Network (PI) Price: Recovery Underway as Token Climbs 30% From Monthly Low appeared first on CoinCentral.