Key takeaways
- PI is down 2.3% and is now trading below $0.1700.
- Investor confidence is declining as CEXs record roughly 2 million PI tokens in inflows over the past 24 hours, suggesting a near-term sell-off.
Pi Network (PI) is trading below the $0.1700 mark on Monday, extending its gradual decline as the token remains stuck in a consolidation phase.
Recent data shows that centralized exchanges (CEXs) received close to 2 million PI tokens over the past 24 hours, pointing to rising sell-side activity amid a broader risk-off tone across the cryptocurrency market.
Selling pressure persists amid geopolitical tensions
Pi Network continues to face downward pressure, mirroring wider market caution 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 traffic through the Strait of Hormuz—further dampening investor risk appetite.
Data obtained from PiScan shows that 1.92 million PI tokens were transferred to CEXs within 24 hours, suggesting that KYC-verified mainnet users may be reducing their holdings and adding to the ongoing sell-off.
Currently, investors within the ecosystem are shifting their attention to the upcoming Consensus 2026 event, hosted by CoinDesk from May 5–7. Pi Network co-founder Chengdiao Fan is scheduled to speak on May 6 on the topic of integrating Web3, AI, and blockchain for real-world utility.
The event, with Fan speaking, could trigger a “buy the hype, sell the news” dynamic—potentially fueling a short-term rally ahead of the event, followed by renewed selling pressure.
PI could experience further selling pressure
The PI/USD 4-hour chart is bearish and efficient as the token is trading below both the 50-day and 100-day Exponential Moving Averages (EMAs), currently positioned around $0.1800 and $0.1898, respectively.
Momentum indicators reinforce the bearish outlook. The Relative Strength Index (RSI) sits near 44, below the neutral midpoint, indicating sustained bearish momentum.
Meanwhile, the Moving Average Convergence Divergence (MACD) shows slightly negative histogram bars, suggesting that downside pressure remains in play.
On the downside, immediate support lies at $0.1556, the February 23 low. A break below this level could open the door to further declines within the current bearish structure.
However, if the bulls regain control, a move above the 50-day EMA at $0.1800 would be the first sign of recovery. A daily candle close above this level would allow PI to reclaim the 100-day EMA near $0.1898.
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