What Can We Expect from Pi Network Price in August?

The price performance of Pi has remained quite bleak over the past few weeks. The coin has attempted to be bullish but has not been able to maintain any significant growth momentum. As August approaches, this altcoin faces additional pressure from a significant token unlock, which could further strain its already fragile market structure. 156 Million PI Tokens Are About to Flood the Market as Price Is About to Break Out Pi will have an important token unlock event in August. According to data from PiScan, 156 million tokens - worth about 68 million dollars at the current price - are expected to be unlocked over a period of 31 days. This unlocking event adds significant bearish risk to a token that has already faced a lot of pressure, with very little bullish sentiment to support a recovery.

Currently trading at $0.43, PI has not kept pace with the overall growth of the cryptocurrency market, witnessing many assets reach new all-time highs. This altcoin has faced significant pressure from the supply side, with over 250 million tokens issued just this month. With the minimum purchase demand to balance this supply, PI has been unable to gain traction. It remains stuck in a narrow range and dangerously fluctuates near its all-time low of $0.40. PI Faces a Gloomy August as Buying Demand Gradually Decreases The daily chart shows that technical indicators are signaling bearish, with no clear signs of reversal. For example, the Accumulation/Distribution (A/D) of PI, a measure of buying volume versus selling volume, has been steadily declining since June 26.

Currently at -1.01 million, its value has decreased by more than 85% since then, indicating a decline in interest from market participants. When the A/D line of an asset drops sharply like this, the selling volume will overshadow the buying pressure. This trend indicates that the demand for PI is continuously weakening and signals the risk of further price declines in August. Moreover, after an unsuccessful attempt to break through the neutral line of 50 on July 22, the Relative Strength Index ( RSI ) of PI has shown a downward trend. Currently, this index stands at 38.92, reflecting the strength of the selling side in the PI spot markets.

The RSI indicator measures the overbought and oversold conditions of an asset in the market. This indicator ranges from 0 to 100. A value above 70 indicates that the asset is overbought and may be about to decrease in price, while a value below 30 indicates that the asset is oversold and may recover. At 38.92 and decreasing, the RSI indicator of PI shows that the bearish momentum is increasing as August approaches. This suggests that the token may continue to decline unless a reversal occurs soon. Can PI Survive After the Flood Providing 68 Million USD in August? If there is not enough new demand to absorb the 156 million PI tokens expected to be released next month, this altcoin risks dropping to an all-time low of $0.40. The possibility of a further decline below this level remains if the downward momentum continues to increase.

However, if the current trend reverses and buyers come back to the market, they may help stabilize the price of PI in August and try to push the price above the resistance level of $0.46.