Pi Network Price Holds Above $0.20
Pi Network (PI) trades above $0.20 as of Thursday, avoiding a drop below this key level. The token is nearing the top of a descending triangle pattern on the 4-hour chart. On-chain data may help push the price higher soon.
On-Chain Data Shows Growing Demand
Data from PiScan reveals that over 1.32 million PI tokens left centralized exchange (CEX) wallets in the past 24 hours. This outflow suggests less selling pressure and higher demand from users.
Most PI tokens remain off exchanges. Pi Network requires strict Know Your Business (KYB) checks for listings.
In the last 24 hours, the network saw large payment transactions of 999,999 PI each, worth about $200,199. This shows increased use and adoption of Pi Network.
Technical Outlook: Possible Breakout Ahead
Pi Network holds support at $0.1919, set on October 11. This level forms the base of a descending triangle pattern with a resistance trendline above.
The price is close to the triangle’s apex after several bounces from $0.1919 in recent weeks. A strong close above $0.2086 could confirm an uptrend. The next target would be $0.2249.
The MACD indicator shows sideways movement with a slight downward bias, indicating some selling pressure. The RSI is at 41 and rising, signaling growing buying interest.
If PI falls below $0.1919, it may break down from the triangle. This could lead to a drop toward $0.1732.
