Pi Network price faces possible new all-time low as bearish pattern forms
Pi Network price has rebounded from its June 6 low near $0.119, but risk remains elevated as a bearish continuation pattern develops. On June 12, Pi Network price traded around $0.128, after gaining about 1.8% over 24 hours alongside a broader crypto market rebound.
Technically, the article highlights a descending-triangle / inverse cup-and-handle structure on the 4-hour chart, with key support at $0.124–$0.125. A breakdown below this zone would confirm bearish continuation and could target around $0.116, pulling Pi Network price toward the risk of a fresh all-time low.
Fundamentals are also pressured by supply: about 144.45M PI tokens are scheduled to unlock over the next 30 days (~2.33% of locked supply). The largest single-day release in the period is forecast for June 12 (over 14.8M PI). The article notes thinner liquidity, making Pi Network price vulnerable to selling from early miners and users completing KYC and Mainnet migration.
On-chain positioning looks mixed-to-cautious. Recent wallet data showed 579,018 PI leaving tracked centralized exchanges versus 319,304 PI inflows (net outflows of ~259,714 PI). However, exchange balances still sit high (~546.4M PI), and the unlock schedule may outweigh short-term relief.
Catalyst risk is also mentioned: Pi Core Team requires all Mainnet node operators to complete the Protocol 25 upgrade by June 18, with potential disconnections for non-compliance. The upgrade aims to add compatibility with Stellar Core V20 and support Soroban smart contracts—an upside narrative that may not offset near-term unlock and chart pressure.
Bull case levels cited: reclaim $0.130 and then break above ~$0.145 to invalidate the bearish structure.
Bearish
The setup is bearish because the article combines (1) a developing bearish continuation structure around key support and (2) persistent near-term supply pressure from large PI unlocks. In past token-unlock cycles across crypto, price often struggles when unlock volumes are large and liquidity is thin: even if inflows/outflows look temporarily favorable, sellers tend to reappear as newly available tokens reach exchange wallets.
Short term, Pi Network price is most sensitive to the $0.124–$0.125 support area. A confirmed breakdown would likely trigger momentum selling and increase the probability of revisiting the June low near $0.119 and potentially a fresh all-time low. The article also cites overhead resistance ($0.130 and ~$0.145) that bulls must reclaim; until that happens, lower highs/lower lows and MACD weakness keep the trend risk skewed to the downside.
Long term, the Protocol 25 upgrade by June 18 and Soroban-related roadmap are constructive narratives, but they are not immediate catalysts strong enough to negate unlock-driven market mechanics. Traders should therefore watch both: (a) chart invalidation levels for Pi Network price, and (b) whether unlocks translate into sustained exchange inflows that would amplify selling pressure.