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Pi Coin price dropped 4.86% in 24 hours to trade at $0.2270 on November 3. The decline comes as investors prepare for a major token unlock event scheduled for this month. Market participants expect around 121.5 million Pi tokens to enter circulation gradually throughout November.
Pi Coin price fell below a symmetrical triangle pattern on November 3. The break confirmed sellers have taken control of short-term market direction. The $0.2276 level now acts as resistance after previously serving as support.
Buyers have attempted several rebounds since the breakdown occurred. However, persistent selling pressure has rejected each recovery effort. The market structure currently favors bears in the near term.
Technical indicators show weakness in buying momentum across trading sessions. The Directional Movement Index reveals imbalanced forces between buyers and sellers. The +D line stands at 10 while the -D reaches 31.
The Average Directional Index reading of 29 confirms the downtrend carries strength. This suggests the correction phase may continue before exhaustion sets in. Bulls need to defend the $0.20 support zone to prevent further losses.
The November unlock will release approximately 2.39% of the locked Pi token supply. The largest single-day unlock occurs on November 15 with over 5.7 million tokens. This release carries a market value exceeding $1.5 million at current prices.
Supply expansion events often lead to volatility in cryptocurrency markets. The unlock may accelerate selling as supply increases faster than demand absorption. Short-term holders could use the event as an opportunity to exit their positions and secure profits.
Pi Coin price faces downward pressure as the unlock date approaches. The $0.20 level represents a critical support zone for price stability. A test of this zone appears increasingly likely given current market conditions.
Market observers expect selling volume to intensify around the November 15 unlock. The combination of technical weakness and supply expansion creates challenging conditions. However, unlock events can also establish new price floors once absorption completes.
The Pi Coin price requires strong support at $0.20 to prevent further corrections. Bulls must step in at this level to stabilize the market. Successful defense could trigger a gradual recovery toward higher targets.
The long-term recovery target remains at $0.70 if support holds firm. Technical indicators will need to shift in favor of buyers before the market can shift. This requires increased buying volume and momentum reversal signals.
Current market sentiment is leaning bearish as supply expansion is expected to loom ahead. The next few weeks will determine whether the Pi Coin price stabilizes or continues to decline. The November unlock serves as a critical test for market resilience.
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Maxwell is a crypto-economic analyst and blockchain enthusiast, passionate about helping people understand the potential of decentralized technology. His goal is to spread knowledge about this revolutionary technology and its implications for economic freedom and social good.
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