Pi Network Faces Volatility Ahead of Pi2Day; Is a Bigger Move Incoming?

Pi (PI), currently trading around $0.58, is navigating a volatile stretch, down nearly 8% intraday after a 12% surge earlier this week. The technical chart shows resistance around $0.66, while on-chain fundamentals remain mixed. With the July token unlock looming and the highly anticipated Pi2Day event approaching on June 28, traders are weighing short-term volatility against long-term potential. If the core team delivers on key promises—such as mainnet expansion, AI integration, and smoother KYC—PI could reclaim bullish momentum in the coming weeks. 

What Just Happened with Pi’s Price?

Lately, Pi Network’s price experienced a sudden spike earlier this week, marking local highs at $0.66. This was when market sentiment turned bullish as global tensions eased, triggering a smooth rebound in the Bitcoin price. On the other hand, the excitement around the Pi2Day also intensified, which is looked at as the network’s mid-year milestone event that could deliver updates on AI features, KYC tools, and broader ecosystem upgrades. 

Many traders who bought the dip under $0.55 saw the rally as a chance to lock in quick gains. Meanwhile, the experienced investors were cautious of the upcoming token unlock in July, where 274 million Pi could enter circulation. That could potentially flood the market—unless there’s a strong demand boost from Pi2Day announcements or growing dApp adoption on the open mainnet. 

Pi Price Forecast: Cautious Optimism

Ever since the launch, the PI has been facing immense upward pressure. Although the bulls tried hard to push the prices higher, they soon experienced immense exhaustion. As a result, the price plunged as the selling pressure surged. The token is undergoing a similar price action now, which suggests the price may encounter a 15% pullback to reach the support if it fails to defend $0.5. 

The recent rejection from the resistance suggests the buyers are not completely in control, as the volume remains below the average levels. Besides, the volume has been plunging since its inception, which remains the main concern at the moment, indicating a drop in the investor’s confidence and interest. On the other hand, CMF plunges before surpassing the previous highs, and the Ichimoku cloud diverges before undergoing a bullish crossover. 

The chart patterns and the technical indicators suggest the continuation of a descending trend, which may reach $0.5 in a short while. If the bulls manage to trigger a rebound, a breakout from the wedge could follow; otherwise, a drop to the support at $0.47 is imminent. 

Pi2Day could be a game changer or a missed opportunity. If the event delivers solid progress and timelines, expect renewed upward momentum; the Pi price could rise above $0.7 which may further push to the pivotal resistance at $1.