PI Price Prediction: 156 million tokens unlocking soon! Is August likely to fall below the historical low of $0.40?

Pi coin ( PI ) has shown continued weak price performance recently, failing to keep up with the market rebound pace. As August approaches, the project will face a token unlock event of approximately $68 million worth of 156 million PI Tokens, and the enormous new supply may further impact its fragile market structure. The technical indicators RSI and A/D line both signal a strong bearish trend, with the price of Pi coin nearing the historical low of $0.40, making the August trend precarious. This article provides an in-depth analysis of the latest market conditions of Pi coin, the impact of the token unlock, and the risks associated with key support levels.

PI price trend is weak, altcoins lack rebound

In the past few weeks, the price performance of Pi coin (PI) has remained sluggish. Although there were attempts to rise, it failed to maintain any meaningful upward momentum. Currently, Pi coin is trading at around $0.43 and has not kept up with the rebound pace of the broader cryptocurrency market (many assets have set historical highs in this round of market). This altcoin has been plagued by enormous selling pressure from the supply side, with over 250 million tokens released into circulation just this month.

August Token Unlock is Coming, Massive Supply Impacting the Market

As August approaches, this altcoin project faces additional pressure from a significant token unlocking event, which may further weigh on its already fragile market structure. According to PiScan data, 156 million PI tokens are scheduled to be unlocked over the 31 days of August, worth approximately 68 million USD at current prices. This unlocking event poses a serious downside risk to the already pressured token, with almost no bullish sentiment in the market to support its rebound.

(Pi Monthly Unlock Source: PiScan)

Buyer interest wanes, Pi coin's outlook for August is bleak

Due to a lack of sufficient buyer demand to offset this new supply, PI has been unable to gain upward momentum. It is locked in a narrow trading range and dangerously hovering around its historical low of $0.40.

The technical indicator readings on the daily chart show bearish signals, with no obvious signs of reversal. For example, the accumulation/distribution line (A/D Line) of Pi has been continuously declining since June 26. The indicator is currently at -1.01 million, having plummeted over 85% in value since then, highlighting a weakening interest among market participants. When an asset's A/D line falls so sharply, it indicates that selling pressure exceeds buying pressure. This trend shows a continued weakening of demand for Pi and suggests an increasing risk of further price declines in August.

In addition, after the failed attempt to rebound and break through the 50 neutral line on July 22, the Relative Strength Index (RSI) of Pi coin has been on a downward trend. The indicator is currently at 38.92, reflecting the strong selling power in the PI spot market. The RSI indicator measures the overbought and oversold market conditions of an asset, ranging from 0 to 100. A value above 70 indicates that the asset is overbought and a price correction may occur; below 30 indicates that the asset is oversold and a rebound may be on the horizon. The current RSI value of 38.92, which is still declining, suggests that bearish momentum is building as August approaches. This indicates that unless a reversal occurs soon, the token may face further declines.

(Source: TradingView)

Can Pi Coin withstand the torrent of $68 million supply? **

If there is not enough new demand to absorb the upcoming release of 156 million PI tokens next month, the price of this altcoin may fall towards its historical low of $0.40. If bearish momentum continues to strengthen, there is a high possibility of breaking below this key support level and further deep decline.

(PI Price Analysis Source: TradingView)

Conclusion: In the face of the upcoming massive Token unlock and persistently low technical indicators, Pi coin will face a severe test in August. The historical low of $0.40 has become a key psychological and technical support level that both bulls and bears will compete for. Investors need to closely monitor the market's digestion of the new supply and whether buying power can form an effective defense at the key level; any movement below $0.40 could trigger a deeper decline. Whether Pi coin can survive in August and avoid further breakdown will be the focus of market attention.