Pi Network (Pi) Price Consolidates Around $0.82, Struggling to Break $0.86 Resistance

Pi Network's (Pi) price has been consolidating around $0.82, struggling to break the $0.86 resistance level. Despite this price stagnation, the Pi community remains hopeful

Pi Network’s (Pi) price has been stuck in a tight range, trading at $0.8287 at the time of writing, showing a 2.15% decrease over the last 24 hours. The coin’s market cap stands at $5.61 billion, with a 24-hour trading volume of $176.64 million, recording a decline of 54.22%. The price chart shows large volatility, as the coin peaked at $0.8523 before falling back down, displaying a bearish trend.

One of the key factors to consider is Pi Network’s circulating supply. With 6.77 billion PI tokens out of 100 billion in total supply already circulating, a large portion of the token has yet to be distributed. This could suggest future inflation or shifts in supply dynamics, which might impact Pi’s price as more tokens enter circulation.

Technical Analysis Shows Mixed Signals

The Relative Strength Index (RSI) for Pi Network is currently at 42.63, below the neutral