This week, Pi Network (PI) price is showing signs of stabilizing around a key support zone, as the Moving Average Convergence Divergence (MACD) momentum indicator on the daily timeframe begins to weaken after a prolonged downtrend. At the time of reporting, PI is trading around $0.17, up approximately 2.63% over 7 days, alongside selling pressure showing signs of fading. However, whether the weakening bearish momentum is enough to trigger a recovery to the $0.20 range remains unclear, as the market continues to face pressure from heavy supply and a technical structure that has yet to reverse.
MACD signals early signs of bearish exhaustion
Data from TradingView shows that the MACD histogram on PI’s daily timeframe has significantly decreased and is approaching the 0 level, a level last seen when the price bottomed around $0.13. Additionally, the MACD line and signal line are converging around the -0.005 zone, reflecting a clear weakening of bearish momentum.
Pi price + MACD chart (1D). Source: TradingView
In technical analysis, a flattening MACD is often viewed as an early signal that selling pressure is fading. However, this factor alone does not confirm a price reversal trend. A stronger confirmation signal would require a bullish crossover—when the MACD line crosses above the signal line. In other words, the market is currently in a state of “pause” rather than “reversal.”
Price structure remains under pressure
Although the MACD shows weakening momentum, PI’s higher-timeframe price structure remains in a medium-term downtrend. Since peaking near $0.299 in March, the price has consistently formed lower highs and lower lows before entering a consolidation phase around the $0.16–$0.18 range.
Pi Price + MACD S/R chart (4H). Source: TradingView
Analyzing the 4-hour timeframe combined with the MACD S/R indicator, the data reveals a series of overlapping resistance levels, with key levels at $0.1703 – $0.1917 – $0.2071, respectively.
On the downside, short-term support is identified around $0.157, with a deeper bottom at $0.1309, coinciding with previous lows.
This indicates that the downtrend still prevails, and current bounces may only be technical in nature unless the price breaks through key resistance zones.
Liquidity signals show limited conviction
Data from CoinMarketCap shows that PI’s liquidity remains limited. PI’s 24-hour trading volume is currently around $13.6 million, down 4.63%, while the Vol/MCap ratio is only 0.77%.
This suggests that trading activity remains low, and there has been no significant increase in buying pressure. In this context, sideways price movement may reflect a “wait-and-see” market sentiment rather than a clear positive trend.
Furthermore, with a market capitalization of approximately $1.73 billion compared to a Fully Diluted Valuation (FDV) of up to $17.15 billion, PI currently faces a significant gap between circulating supply and maximum supply. This disparity indicates that over 90% of the supply has yet to be released, thereby creating dilution risks and supply pressure in the long term.
Token unlocks remain a key overhang
The total remaining PI tokens scheduled for unlocking amount to over 6.07 billion, of which approximately 1.6 billion PI will enter market circulation over the next 12 months, according to data from PiScan.
Monthly unlock statistics. Source: Piscan
On average, about 18 million PI will be unlocked each month, with peak months potentially reaching up to 432 million PI. This means the market will continuously have to absorb a significant amount of new tokens.
While liquidity remains limited, this volume of unlocked tokens could put pressure on the price, especially if it is not accompanied by a corresponding increase in demand.
Network upgrades provide limited but notable support
Recently, Pi Network announced the successful deployment of the mainnet upgrade to Protocol 21.
The Pi Mainnet has successfully upgraded to Protocol 21.
Node operators, please ensure your systems are up to date and stay tuned for instructions regarding the upcoming v22 upgrade.
— Pi Network (@PiCoreTeam) April 14, 2026
According to initial information, this upgrade is expected to improve network performance and lay the foundation for subsequent versions, including the mentioned Protocol 22. While this is a positive signal for product development, the short-term impact on price may remain limited as technical factors and supply pressure continue to play a dominant role.
Can Pi reclaim $0.20 in the near term?
PI’s ability to reclaim the $0.20 mark in the short term will depend on whether the price can recapture the key resistance zones above. Most immediately, the $0.17–$0.18 area remains the first barrier to overcome to reinforce a recovery signal.
A clear breakout above the $0.20 mark could pave the way for the price to head toward the $0.28 zone, which marks the recent peak. Conversely, if PI fails to hold support around $0.157, downward pressure could pull the price back to the February bottom ($0.13).
At present, the price is likely to continue fluctuating within the $0.16–$0.18 range, as macro and geopolitical factors may affect risk appetite, thereby limiting capital flow into assets like altcoins.
No confirmed reversal yet
Pi Network is recording early signs of stabilization as bearish momentum weakens, according to MACD indicator data. However, the long-term downtrend has not yet been broken.
Pressure from high supply, limited liquidity, and a weak technical structure continues to be a factor hindering a recovery. The prospects for recovery will depend on the price’s ability to overcome key short-term resistance zones.
