The price of Pi Network (PI) is showing clear signs of exhaustion as bullish volume diminishes at critical support levels. After briefly stabilizing above the $0.22 mark, momentum has stalled, raising the risk of a deeper correction. With a significant token unlock on the horizon, traders are watching to see if this event will add to the mounting downside pressure.

Technical Support Under Pressure

Pi Network has recently pulled back to its point of control (POC) around $0.22, a technical level that has anchored its current trading range. Unlike previous tests of this zone that were met with strong buying, the latest interaction shows notably weaker demand. This shift is an early warning that buyers are beginning to lose their grip on the market.

While the price has formed a series of higher lows near the POC, this isn’t a sign of growing strength. Instead, it suggests a buildup of liquidity just beneath this support shelf. In technical analysis, markets often dip below such levels in a “liquidity sweep” to trigger sell orders before a potential reversal can occur. For Pi Network, this pattern increases the probability of a sharp move below $0.22.

Potential Scenarios and Key Levels

If the $0.22 support fails, the next major technical target is the $0.20 level, which aligns with the value area low of the current range. This area represents a more robust structural demand zone and would be the natural destination for a corrective move. A dip to $0.20 could reset the market structure and potentially trigger a rotation back toward the POC and, eventually, the upper range resistance at $0.25.

For now, the point of control remains the most critical level to watch. A sustained hold above $0.22 would keep the current range intact. While Pi Network’s recent strategic investment in CiDi Games signals broader ecosystem development, it has yet to influence short-term price dynamics. Given the combination of fading volume and liquidity below support, the likelihood of a corrective drop toward $0.20 has increased significantly.

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