Pi Network Price Holds Steady Above $0.20
Pi Network (PI) trades above $0.20 as of Friday. The price shows little change compared to wider market swings. Despite recent gains, Pi faces pressure from token sales outside exchanges.
Exchange Outflows Show Buying Pressure
Demand for Pi tokens on centralized exchanges (CEXs) is rising. At the same time, sellers continue to put pressure on the price. Data from PiScan shows 2.58 million PI tokens left CEX wallets in the past 24 hours. This outflow usually means less selling on exchanges.
Most PI tokens stay off exchanges, making supply tracking hard. The current price correction mainly comes from off-exchange sales. CEX wallets rarely see token inflows.
Technical Outlook: Signs of Potential Rebound
After three days of losses, Pi Network rose 1% on Friday. The token remains above the key $0.20 support level. This may help prevent a sharper drop.
Pi’s price has moved sideways since October 10, between $0.2295 and $0.1996. A close below $0.1996 could push the price down to $0.1731.
The MACD indicator is close to its signal line, showing selling pressure easing. A crossover could signal more buying momentum. The RSI is at 29, rising from oversold levels. This suggests a possible price reversal soon.
If Pi breaks above $0.2295, it could move toward $0.2755, the next resistance level.
