Pi Network’s PI token trades under pressure near $0.22, still trading below the 50-day Exponential Moving Average close to $0.239. In the short term, traders see a bearish setup as exchange reserves climb and a major token unlock approaches.
On the daily chart, the PI token failed to reclaim the 50-day EMA, which now forms the first strong resistance area. Sunday’s near 2% drop kept price action weak and encouraged cautious positioning among traders who track momentum signals.
The Relative Strength Index stands close to 43 and trends lower. This signals fading buying strength. The Moving Average Convergence Divergence also shows a sell bias, with both lines holding below the zero mark and pointing down.
Market participants watch $0.1919 as the first important support zone, based on the October 11 low. A clean move below that level could open the way toward the all-time low of $0.1533 from October 10. For a more constructive Pi Network price outlook, the token needs to close back above the 50-day EMA and hold that level.
On-chain flows reinforce a cautious view of PI. PiScan reports about 177,867 PI moved to centralized exchanges in the past 24 hours, lifting CEX balances to approximately 437.88 million.
The main driver behind these movements comes from ongoing token migration. As close to 17.5 million users complete Know Your Customer checks, more PI shifts from the testnet environment to mainnet wallets. According to PiScan, more than 6.42 million PI migrated to the mainnet during December alone.
Pi Network continues to expand its AI-based KYC system. The project reports that automation cut verification waiting times by roughly half, while human validators still review sensitive steps. Faster onboarding supports participation but also gradually increases the circulating stack of liquid tokens.
Even though the Pi Network price outlook has weakened, development on the project continues. The team recently activated Testnet2 to boost network performance and give developers a more stable environment for testing apps before a wider mainnet release.
The BNPi travel booking app also adds a clear real-world use case. It lets users book hotels and pay with Pi, while the platform claims savings of up to 10% compared with traditional booking services. Hosts receive BNPI tokens as rewards, and the app already supports more than 15 languages.
December also brings an estimated 190 million PI token unlock, which many observers view as a key test of market depth. More than 100 mainnet-ready applications, including gaming platforms such as CiDi Games, now operate on the network and aim to channel some of this supply into actual usage.
Social media also hosts discussions around an unverified California legal filing. Community figures describe the related lawsuit claims as rumor-driven FUD and note that the Pi Core Team has not issued any statement confirming a direct legal impact.
Also Read: Pi Network Upgrades App Studio With Code Tools and New Developer Features