According to ixbroker, Pi Network price is under pressure as roughly 8.7 million tokens are scheduled to unlock on Thursday, Dec. 25, raising the risk of renewed selling pressure.
After hitting a November high of $0.279, Pi Network fell 31% to an annual low of $0.192 last week. While it rebounded to $0.214 over the weekend amid dip buying, demand weakened again, with the token trading around $0.203 at the time of writing, as investors adopted a wait-and-watch stance ahead of US initial jobless claims data.
Token unlocks weigh on Pi Network
The upcoming token release is the largest for December, with 8.7 million PI tokens worth approximately $1.76 million set to enter circulation, according to PiScan. Overall, nearly 54.7 million tokens—valued around $11.07 million—are expected to be unlocked this month. Large token unlocks increase supply and often exert downward pressure on price unless buying demand absorbs the excess.
This unlock comes shortly after the Pi core team announced initiatives to strengthen the network’s DeFi infrastructure and expand real-world usage. If these projects drive meaningful engagement, they could partially offset selling pressure from the token unlocks.
Technical analysis points to downside risk
On the daily chart, Pi Network has formed a double top pattern since late October, a classic bearish reversal setup. The tops are near $0.285, with the neckline around $0.192–$0.196. A confirmed break below the neckline could trigger significant declines.
Momentum indicators reinforce the bearish outlook. The Supertrend signal has turned red, moving above the price and suggesting that bears have regained control. Meanwhile, the MACD remains below the zero line, indicating continued consolidation or downside potential.
If Pi fails to hold the neckline support, a drop toward $0.153 is possible, representing a roughly 24% decline from current levels. Conversely, a rebound from the neckline could invalidate the bearish setup and pave the way for a potential recovery.
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