Pi Network Faces Pressure: Unlocking July Token is Approaching as Pi2Day Falls Short of Expectations

After a continuous six-day fall, Pi Network (PI) continues to plummet below the $0.50 threshold, causing market sentiment to become increasingly gloomy. Despite hopes for the Pi2Day event and the launch of the Pi App Studio platform, the market shows no positive signals, while the latest data from PiScan indicates a large unlocking event is about to occur, which could push the price of Pi to fall even deeper. 🔓 19.2 Million Tokens Will Be Unlocked On July 4 – Risk of Increased Supply Causing Sell Pressure According to data from PiScan, July 4 will see 19.2 million PI tokens unlocked, marking the largest unlock event of the month. This is part of a total of 268.4 million PI expected to be unlocked throughout July – the largest figure up to October 2027. Unlocking on such a large scale often increases selling pressure as users may want to realize profits or exit positions, especially in the context of a falling market. This event raises concerns that the price of PI may continue to plummet further, particularly if the market lacks any positive catalysts in the short term. 🤖 Pi2Day and Pi App Studio – Technical Progress but Not Strong Enough On June 29th – on the occasion of Pi2Day, Pi Network announced the launch of Pi App Studio, a "no-code" platform utilizing AI to allow the community to rapidly develop applications without needing programming knowledge. At the same time, the Ecosystem Directory Staking is also being implemented, encouraging users to stake PI to enhance the application ranking on the Pi ecosystem. However, despite these updates, Pi2Day has not generated a clear momentum for the market. The price of Pi continues to fall, indicating that investor confidence remains weak and these initiatives need more time to prove their actual effectiveness. 📉 Technical Analysis: Risk of Breaking Support Area $0.47 – Next Target $0.40? At the time of writing (Tuesday, 1/7), the price of Pi has fallen by 3%, extending a series of six consecutive red candles. Last week, Pi had recovered to the level of $0.6667 but quickly reversed and is currently trading around $0.49. The nearest support level currently is $0.4711 – the low on June 22. If Pi closes the daily candle below this level, it is highly likely that the price will head towards the strong support area at $0.40, which was previously tested on April 5 and June 13. Notably, the RSI indicator is currently at 35, approaching the oversold zone – indicating that selling pressure remains strong and there are no clear signs of recovery. 🔄 Reverse Script – When Can It Happen? To avoid a deeper collapse, Pi Network needs to maintain a closing level above $0.5031. If a long lower shadow candle appears, it may trigger short-term buying pressure, bringing the price back to the $0.6600 range – the bottom on May 17. However, in the context of a strong increase in supply and weak demand, the short-term recovery potential is relatively low without a major surprise factor from the development team. 📌 Conclusion Pi Network is facing pressure from both the supply side with large token unlocks and a decline in trust, negative sentiment after Pi2Day. The price nearing important support levels indicates a critical phase ahead. If there are no solid moves or breakthroughs regarding the ecosystem and trust from the community, PI could completely fall below $0.40 in July, marking a significant setback compared to the initial expectations of token holders.