Pi Network is in the spotlight after the core team moved 60 million Pi coins in a single day, according to PiScan data, sparking concerns about potential short-term selling pressure.

At the same time, Pi token has been attempting to stabilise and regain momentum after recent price swings.

The price of Pi currently hovers around $0.1735, after a small rebound from a recent low of $0.1312.

Pi Network’s price has been approaching a descending trendline that has historically acted as resistance.

Breaking above this line could signal a short-term bullish phase.

However, failure to surpass it may result in the price sliding back toward support zones.

But there are a few factors that could support a bullish phase, at least in the short-term.

One is the protocol upgrade to v19.9 that has been completed, with the network now preparing for the next series of upgrades.

As part of the upgrades, Node operators had a March 1 deadline to update their software to remain connected to the network.

These upgrades are designed to strengthen the blockchain and increase stability, which could positively influence investor confidence over time.

At the moment, short-term momentum indicators show cautious optimism.

The token has risen about 4.2% over the past week, recovering from previous losses.

Traders should monitor whether this momentum can continue, especially as the recent large token transfer could create additional selling pressure.

Although the 60 million Pi coins have not yet reached exchanges, their presence in wallets raises questions about potential liquidity.

If these coins are released into the market, they could increase short-term supply and create downward pressure on the price.

Additionally, there are scheduled token unlocks that could further add to the circulating supply.

These events often lead to volatility, especially for tokens like Pi that have experienced rapid fluctuations in the past year.

Despite these concerns, the network’s ongoing upgrades and future plans offer a potential counterbalance.

The Pi team is targeting further improvements before Pi Day, which could help restore confidence and support a rebound in price.

Traders should closely watch the descending trendline near $0.175 as a key resistance level.

A break above this could open the door for a rally toward $0.2588, which has served as a key resistance level based on recent price behavior.

However, if Pi fails to breakthrough $0.175, then traders should watch whether the support at $0.153 will hold the price from falling further.

The $0.17–$0.18 zone will be critical in determining short-term market sentiment.

Any large sell-offs from the recently transferred coins could test lower levels.

Conversely, successful network upgrades and positive momentum could push Pi above $0.19, attracting renewed trader interest.

The post Pi Network price prediction as Pi core team moves 60M Pi coins appeared first on Invezz

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