Key takeaways
- PI is down 2.3% and is now buying and selling below $0.1700.
- Investor confidence is declining as CEXs file roughly 2 million PI tokens in inflows over the previous 24 hours, suggesting a near-term sell-off.
Pi Network (PI) is buying and selling below the $0.1700 mark on Monday, extending its gradual decline as the token stays caught in a consolidation section.
Recent knowledge reveals that centralized exchanges (CEXs) acquired near 2 million PI tokens over the previous 24 hours, pointing to rising sell-side exercise amid a broader risk-off tone throughout the cryptocurrency market.
Selling pressure persists amid geopolitical tensions
Pi Network continues to face downward pressure, mirroring wider market warning triggered by failed peace negotiations between the United States and Iran in Pakistan. The breakdown in talks has escalated tensions, with the US initiating a blockade of maritime visitors by way of the Strait of Hormuz—additional dampening investor threat urge for food.
Data obtained from PiScan reveals that 1.92 million PI tokens have been transferred to CEXs inside 24 hours, suggesting that KYC-verified mainnet customers could also be decreasing their holdings and including to the continuing sell-off.
Currently, traders inside the ecosystem are shifting their consideration to the upcoming Consensus 2026 occasion, hosted by CoinDesk from May 5–7. Pi Network co-founder Chengdiao Fan is scheduled to talk on May 6 on the subject of integrating Web3, AI, and blockchain for real-world utility.
The occasion, with Fan talking, may set off a “buy the hype, sell the news” dynamic—doubtlessly fueling a short-term rally forward of the occasion, adopted by renewed selling pressure.
PI may expertise additional selling pressure
The PI/USD 4-hour chart is bearish and environment friendly as the token is buying and selling below each the 50-day and 100-day Exponential Moving Averages (EMAs), presently positioned round $0.1800 and $0.1898, respectively.
Momentum indicators reinforce the bearish outlook. The Relative Strength Index (RSI) sits close to 44, below the impartial midpoint, indicating sustained bearish momentum.
Meanwhile, the Moving Average Convergence Divergence (MACD) reveals barely detrimental histogram bars, suggesting that draw back pressure stays in play.
On the draw back, rapid help lies at $0.1556, the February 23 low. A break below this stage may open the door to additional declines inside the present bearish construction.
However, if the bulls regain management, a transfer above the 50-day EMA at $0.1800 could be the primary signal of restoration. A day by day candle shut above this stage would permit PI to reclaim the 100-day EMA close to $0.1898.
