Headline: Pi Network (PI) struggles as mainnet migration outpaces CEX outflows — $0.1500 support in focus
Pi Network (PI) has emerged as one of the market’s laggards this week, trading at $0.1507 on Tuesday after a modest 2% uptick since Monday but still down roughly 12% over the past seven days.
Why PI is feeling the pressure
- Exchange flows: Data from PiScan shows 2.55 million PI left centralized exchanges (CEXs) in the last 24 hours — a move that would normally suggest buying interest as tokens leave exchange inventory.
- Mainnet migration: That outflow, however, is being overwhelmed by freshly unlocked supply. On Tuesday, 4.36 million PI were migrated from testnet to mainnet, and the day prior saw 7.65 million migrated. These migrations enable holders to deposit newly unlocked PI back onto exchanges, creating fresh sell-side pressure.
In short: while CEX withdrawals reduce available sell liquidity, the influx of newly migrated tokens is currently larger and may increase selling pressure rather than relieve it.
Technical picture and key levels
- Short-term momentum is tilted bearish on the 4-hour chart. The Relative Strength Index (RSI) sits near 34 — just above oversold — and the MACD line remains slightly negative below zero.
- Immediate support to watch is $0.1500. If sellers persist, PI could slide to the next supports at $0.1440 and $0.1345.
- On the upside, a break above $0.1605 would open the door toward the 100-period EMA near $0.1684 and could signal a short-term trend reversal.
Outlook
With migration-driven supply outstripping current exchange outflows, PI faces a delicate balance between unlocked supply hitting CEX order books and any sustained demand that might soak it up. Traders will be watching exchange flows and whether bulls can push price decisively above $0.1605 — otherwise $0.1500 remains a critical battleground.
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