Pi Network News: Will Price Hit $1? September Unlocks vs. New ETP

coinpedia
coinpedia

Pi Network has inched higher again, rising more than one percent in the past 24 hours and trading at $0.385. Since touching a low of $0.3303 on August 25, the token has rebounded by more than 16 percent, raising hopes that momentum could carry it toward the one-dollar level. 

However, a large unlock of about 149 million tokens is set for September. That additional supply could weigh on the market.

Liquidity is another concern. Daily trading volume has been steadily declining since mid-May, and currently sits near $43.8 million. Weak liquidity makes it harder for the market to absorb selling pressure and increases the risk of sharper price swings.

Technically, Pi remains caught in a descending channel pattern that has been in place since May, keeping the broader trend bearish. Indicators also show the market leaning negative, with the Relative Strength Index at 38, signaling weak momentum, while the MACD remains flat, pointing to trader indecision. 

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