- Pi Network faces downward pressure as 138 million tokens unlock in October, raising the risk of retesting its all-time low.
- Negative sentiment and bearish technical signals suggest further declines unless demand absorbs the incoming supply.
Pi Network (PI) is under renewed selling pressure as 138.21 million tokens, valued at roughly $37 million, are set to be unlocked in October. The altcoin has been trading sideways since September 23, and analysts warn that a lack of demand could push PI toward retesting its all-time low.
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Bearish Sentiment Weighs on PI
Investor confidence in PI has deteriorated in recent days. On-chain metrics show that PI’s weighted sentiment fell below zero on September 24 and has remained negative since. Currently at -0.63 according to Santiment, this metric reflects growing pessimism among market participants.
Weighted sentiment measures social discussion around a token, combining the volume of mentions with the ratio of positive to negative commentary. A negative reading signals that online discussions are dominated by criticism rather than support, hinting at a bearish outlook for the altcoin.
Technical Indicators Suggest Further Decline
PI’s price also remains under pressure from the Super Trend indicator, which continues to act as dynamic resistance at $0.3279. Trading below the Super Trend line signals a bearish market, indicating that sellers are dominating and the altcoin may be vulnerable to further losses.
Potential Price Scenarios
The combination of weak demand and the large October token unlock means PI could either stay in a sideways consolidation or experience a sharp breakdown. Immediate support sits at $0.2573, but if selling pressure intensifies, PI could fall toward its all-time low of $0.1842.
On the other hand, if traders step in to absorb the unlocked supply, PI could stabilize and attempt a rebound. In such a case, breaking above $0.2917 could pave the way for a move toward $0.3987.
Investor Takeaway
With sentiment remaining negative and technical indicators pointing downward, the outlook for Pi Network remains cautious. Traders should monitor market reactions to the October unlock closely, as it will likely determine whether PI experiences a sharp decline or manages a short-term recovery.
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