Pi Network Price Prediction: 136 million Tokens will be unlocked in October, and the PI coin may fall below the 0.2 USD mark.

The latest market data shows that the price of Pi Network (PI) Token has fallen to 0.2651 USD. With the overall social interest in the crypto market cooling down, the technical aspect is forming a falling wedge, coupled with the large-scale token unlocking pressure in October, the price of PI coin faces further fall risks.

The market is sluggish with the added pressure of token unlocking, PI coin is under double pressure

(Source: PiScan)

On September 30, PI fell to $0.2651, with broader social interest in the crypto market declining, leading to a slow start this week. This price trend reflects the current cautious sentiment in the market, as investors assess a variety of risk factors.

According to PiScan data, up to 136 million PI Tokens will be unlocked in October, accounting for just over 1% of the current circulating supply. In the current market environment where risk-averse sentiment prevails, this increase in supply may further exacerbate selling pressure, creating downward pressure on the price of PI coin.

The CEO of the on-chain analysis platform Alphractal, Joao Wedson, confirmed the decline in market interest by sharing Google Trends data. The data shows that the search volume for crypto-related keywords has significantly fallen, indicating that retail investors are in a wait-and-see mode, unwilling to actively participate in the current uncertain market environment.

PI Token Unlock Schedule and Impact Analysis

The token unlocking mechanism of Pi Network has always been a key factor affecting its price. The unlocking of 136 million tokens in October will be one of the largest unlocking events in the fourth quarter of this year, potentially having a significant impact on the market. Investors need to closely monitor the changes in liquidity after the unlocking and the behavioral patterns of the holding addresses.

Technical Analysis: Pi Network may fall below the $0.2 threshold

(Source: Trading View)

From a technical perspective, Pi Network reversed from the pivot point indicator level of 0.2696 USD on Monday, forming a falling wedge pattern on the 4-hour chart, indicating a potential downward cycle. This technical pattern suggests that the price may further decline, first testing Thursday's low of 0.2565 USD.

If the bears successfully break through that support level, the price of PI coin may further fall to the integer level of 0.2000 USD, which would be the lowest level since August of this year.

However, the technical indicators also show some positive signals:

· The Relative Strength Index (RSI) is still above the oversold area of 42.

· The Moving Average Convergence Divergence (MACD) and its signal line maintain a stable upward trend close to the zero line.

These indicators suggest that although the price trend is weak, the selling pressure is gradually easing.

Looking up, the key resistance level for PI is at the 50-period Exponential Moving Average (EMA) of $0.2845, followed by the round number of $0.3000. If these resistance levels can be broken, it may change the current downward trend.

Investor Response Strategy

In the face of the current market environment, Pi Network investors may consider the following strategies:

· Closely monitor the market reaction after the October Token unlock.

· Observe the performance of the key support level at 0.2565 USD

· Assess the overall changes in crypto market sentiment, particularly the impact of Bitcoin's trend on small-cap tokens.

As the October token unlock approaches, the price fluctuations of the PI coin may intensify. Investors should remain cautious and formulate corresponding investment strategies based on their own risk tolerance.