Token Unlocks Set to Increase Circulating Supply
Approximately 16 million PI tokens are scheduled for release on Thursday according to on-chain data, followed by another 14.8 million becoming eligible for mainnet migration on Friday. These releases add meaningful supply at a time when the asset has already recorded three straight days of losses and remains trapped in a downtrend that began in late April.
Large unlock events have historically translated into short-term selling as previously restricted holdings reach investor wallets. The newly available tokens can be moved to centralized exchanges, raising the probability of additional downward pressure if holders decide to exit positions rather than hold through the current weakness.
Network Activity Shows Notable Large Transfers
On-chain monitoring reveals that three of the five largest transactions in the past 24 hours involved the movement of roughly 255,000 PI tokens. Such activity among major wallets often precedes increased exchange deposits and can amplify selling pressure when combined with scheduled unlocks.
Technical Indicators Remain Weak Across Timeframes
At current levels above $0.1250 the token still trades below its 50-day, 100-day and 200-day moving averages on the four-hour chart. This clustering of key averages above price indicates that sellers retain control of the broader trend and any recovery attempts lack strong momentum.
The RSI near 43 reflects subdued buying interest while the MACD and signal line sit slightly below zero, confirming that bearish conditions persist despite the recent modest rebound. These readings together suggest short-term rallies are likely to stall before reaching higher supply zones at $0.1299, $0.1360 and $0.1400.
Key Levels to Watch if the Downtrend Continues
Should the bearish bias hold, immediate support rests at $0.1184. A decisive break beneath this level would open the path toward the $0.1000 region. Conversely, sustained demand would need to absorb the incoming supply to prevent the current rebound from becoming a temporary relief rally only.
