PI failed to hold above $0.16 and is now approaching the $0.13 support zone. The token traded at $0.143 on May 27 after a 19% drop since April 27. The chart shows PI leaving a major downtrend in March 2026 after a higher high formed. That move also marked a possible bottom near $0.13.
For now, sellers continue to press the market lower. If PI loses $0.13, the chart points to new lows and a return to the broader downtrend.
PI Scan data shows 64.1 million tokens unlocked in May. Another 143 million tokens are set for release in June. Between May 2026 and May 2027, 1.77 billion coins will unlock.
The supply growth matters, as data showed PI cannot rise when new coins keep entering the market and buying stays weak. It also notes that 18.2 million coins will unlock today.
At the same time, 1.08 million PI left exchanges in the last hours. Even so, It also says the day still carries a 17.2 million coin deficit that can dilute buying pressure.
PI completed two upgrades in the last four weeks. Another upgrade will happen on June 2. The report says these changes have only produced short bursts in price. After the April 27 protocol 22 upgrade, PI moved from $0.175 to $0.199 by April 29. Then it returned to a downtrend.
A similar move followed the May 20 protocol change. PI rose 6% to $0.155 before falling back to $0.143 two days later. Analysts believe protocol 23 could bring another brief rise before PI returns toward $0.131.
The 3-day RSI stayed below 50 for almost the entire past year. The report calls that a bearish signal and says one breakout attempt turned into a bull trap.
As long as RSI remains under 50, the study found a lasting reversal looks unlikely. Both price and RSI would need higher highs to break that pattern.
Market sentiment also stays weak. The crypto fear and greed index sits at 25, which analysts describe as extreme fear. It also says PI reacted better when the index reached 50 on May 5.
PI remains under pressure as supply unlocks, a weak RSI, and low market confidence continue to weigh on price. The $0.13 level is now the main line to watch, and a break below it could open the door to fresh lows.