Pi Network’s native token PI pushed below $0.17 on Monday, extending a slow slide as the market keeps the asset in a prolonged consolidation. On-chain tracking shows a notable uptick in sell-side flows: PiScan reports roughly 1.92 million PI moved to centralized exchanges in the past 24 hours, signaling increased liquidation from KYC-verified mainnet users.
Macro and geopolitical pressure has weighed on risk assets broadly, and PI is no exception. Market caution intensified after peace talks between the United States and Iran in Pakistan broke down, prompting the U.S. to block maritime traffic through the Strait of Hormuz. That escalation appears to have cooled investor appetite for speculative tokens, contributing to the recent outflows to exchanges.
Attention in the Pi ecosystem is now turning to Consensus 2026 (May 5–7), where Pi co-founder Chengdiao Fan is slated to speak on May 6 about integrating Web3, AI and blockchain for real-world use cases. The appearance could spark a “buy the hype, sell the news” dynamic—potentially producing a short-lived rally into the event followed by renewed selling once the headlines fade.
Technically, PI looks vulnerable in the near term. On the 4-hour chart the token trades below the 50- and 100-day EMAs, which sit near $0.1800 and $0.1898, respectively. Momentum indicators underscore the downside: the RSI is around 44 (below neutral), and MACD histogram bars are slightly negative, implying persistent bearish pressure.
Key levels to watch:
- Immediate support: $0.1556 (Feb. 23 low) — a break below could open the door to further declines.
- First resistance/recovery trigger: a daily close above the 50-day EMA (~$0.1800).
- Secondary resistance: 100-day EMA near $0.1898, which could be targeted if bulls retake the 50-day.
In short, rising CEX inflows and a risk-off backdrop leave PI on the defensive, though Consensus 2026 and Fan’s presentation could produce transient upside if market participants chase the event.
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