Pi Network is stuck in a narrow range as the largest unlocking event of the month approaches.

Pi Network continues to trade sideways as market participants prepare for a large token unlock that could create new selling pressure. Pi Coin is trading at $0.7504 at the time of the press release, up only 0.2% from yesterday. Over the past seven days, the token has fluctuated between $0.7406 and $0.8586 and is still down 74% from the peak of $2.99 in February. Although prices have recently stagnated, trading volume has increased. In the past 24 hours, Pi Network recorded a trading volume of over 145 million dollars, up 16.2% compared to the previous day, indicating renewed but cautious interest from market participants. However, the focus is still on an upcoming wave of token unlocks. On May 26, 10 million PI were released, followed by 12 million on May 27, according to data from Pi Scan. The largest unlock in a short period is scheduled for May 28, when 15 million tokens will be put into circulation, marking the largest single-day release in the current 30-day timeframe. Looking ahead, 263 million tokens will be unlocked in June, 233 million in July, and 132 million in August. On-chain data shows that many holders are transferring their tokens to centralized exchanges, which increases the likelihood of selling pressure at a time when the unlocking seems to be increasing supply. However, Pi Network is striving to build long-term value. The newly launched $100 million Pi Network Ventures fund is designed to support startups in AI, gaming, fintech, and e-commerce, creating potential real-world use cases for this token. The successful launch of a decentralized application and wider adoption could help revive buying interest over time. Technically, Pi is trading within a narrow Bollinger Band range, with the lower band at $0.53 and the upper band at $1.15. Although the direction is still unclear, the price position in the middle suggests low volatility and a rolling setup, often preceding a breakout.

Most momentum indicators are neutral. The relative strength index, at 48.36, indicates a lack of clear direction, while the stochastic RSI, at 18.16, indicates oversold conditions in the short term. The MACD has shown bearish momentum by crossing below its signal line at 0.0047. Most short-term and medium-term moving averages are above the current price and continue to act as resistance levels. A large volume and a breakout above $0.85 could pave the way for a move up to $1.00 and possibly $1.15. In a bearish scenario, if the range of $0.74–$0.75 is not maintained, Pi could revert to the psychological level of $0.70, with additional risks reaching $0.65 or even the lower Bollinger Band at $0.53. If there is continuous selling pressure, large supply from upcoming unlocks could accelerate this decline.