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Pi Coin has extended its short-term rebound and climbed above $0.19, but with a large-scale token unlock schedule approaching, the sustainability of the rally is drawing market attention.
The token gained about 7% the previous day and continues to trade above $0.19. As the recent rebound brings the price close to key technical resistance levels, expectations for further upside are emerging, although some analysts warn that the large token unlock could cap short-term gains.
Pi Coin has risen დაახლოებით 15% this week, reflecting easing risk-off sentiment across the broader market. According to market data, the Crypto Fear and Greed Index jumped from 19 to 29 in a single day, signaling a gradual recovery in investor sentiment from extreme fear territory.
However, expanding supply is expected to act as a short-term variable. Data indicate that approximately 20.8 million PI tokens are scheduled to be released into circulation on Saturday. This marks the largest unlock over the next 30 days, and token unlocks typically increase supply, which can limit upward price momentum.
Technical indicators show positive signals in the near term. Pi Coin is currently trading above its 50-day exponential moving average (EMA) of $0.1749, maintaining upward momentum. If the price breaks above both the 100-day EMA at $0.1959 and a descending trendline, the next target could expand to $0.2613.
Momentum indicators also support the upward trend. The Moving Average Convergence Divergence (MACD) is rising above its signal line with a widening positive histogram, while the Relative Strength Index (RSI) has climbed to around 65, approaching overbought territory. On the downside, if the price declines, the 50-day EMA at $0.1749 could serve as key support, and a break below this level may open the door to a correction toward $0.1533.
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