Pi Network Price Prediction: PI Holds Steady at $0.20, CEX Net Outflow of 2.58 Million

Pi Network (PI) has generally stabilized in price movement compared to the market fluctuation, firmly holding at $0.20. While striving to maintain last weekend's pump, the net outflow of reserves from the centralized exchange (CEX) indicates dominant buying power. PiScan data shows a net outflow of 2.58 million PI tokens from CEX wallet balances in the past 24 hours.

CEX net outflow reserves of 2.58 million: supply pressure eased

(Source: PiScan)

A few centralized exchanges (CEX) listing Pi Network PI Token have witnessed an increase in demand, while sell-off pressure still persists. PiScan data shows that in the past 24 hours, CEX Wallet net outflow was 2.58 million PI Tokens. Typically, outflows from foreign exchange reserves indicate a reduction in sell-off pressure.

In the price prediction analysis of Pi Network, the outflow of reserves from CEX is an important supply and demand indicator. When tokens flow out of the exchange, it means that investors are withdrawing tokens to their personal wallets for long-term holding, rather than leaving them on the exchange ready to sell at any time. This behavior pattern indicates that holders are gaining confidence in the project and are not in a rush to realize short-term profits. Although the outflow scale of 2.58 million PI is not considered huge, it is worth paying attention to in terms of sustainability.

However, as FXStreet previously mentioned, most PI tokens are still traded over-the-counter, making it difficult to track supply flow. Nevertheless, the ongoing pullback frenzy is largely driven by over-the-counter sell-offs, as wallet balances on Centralized Exchanges (CEX) hardly record inflows. This structural characteristic makes Pi Network price prediction more complex than other mainstream coins.

The existence of the over-the-counter (OTC) market is a unique phenomenon of the Pi Network. Due to the slow listing progress of PI on mainstream exchanges, a large number of early users conduct transactions through OTC channels. The prices and quantities of these OTC trades are difficult to track, but they have a significant impact on actual market supply and demand. When there is strong selling pressure in the OTC market, prices may still come under pressure even if there is a net outflow on CEX.

Due to external pressure leading to a decrease in supply, the demand on the exchange remains stable. This supply and demand pattern provides a relatively optimistic basis for Pi Network price predictions. As long as CEX continues to see net outflows and the pressure from over-the-counter sell-offs is gradually digested, the support for PI around $0.20 will become more solid.

Technical indicators show a decrease in selling pressure: MACD and RSI dual signals

(Source: Trading View)

After three consecutive days of decline, as of Friday's press release, the price of Pi Network has slightly increased by 1%. The PI Token has maintained the psychological support level of $0.20, providing a buffer period when facing the risk of a larger pullback. In the candlestick chart on October 10th, this mobile mining cryptocurrency has maintained a relatively horizontal trend, with price fluctuations between $0.2295 and $0.1996.

The Moving Average Convergence Divergence (MACD) indicator converging with its signal line indicates a decrease in selling pressure. The MACD is a trend-following indicator, and when the fast line and slow line are getting closer, it signifies that the momentum of the current trend is weakening. In the Pi Network price prediction, MACD convergence means that the downward momentum is exhausting. If the MACD indicator is likely to break above the signal line, it suggests that bullish momentum is strengthening. Once the fast line crosses above the slow line, forming a golden cross, it will be a clear buy signal.

The Relative Strength Index (RSI) reading is 29, recovering within the oversold territory, indicating a potential reversal as the upward pressure approaches saturation. An RSI below 30 is considered the oversold zone, and the current reading of 29 signifies that the PI is in a technically oversold condition. Historical experience shows that when RSI enters the oversold zone and starts to rebound, it often creates short-term technical rebound opportunities.

Technical Indicator Dual Signal:

MACD Convergence: Selling momentum is exhausted, and if a golden cross forms, it will confirm the beginning of a rebound.

RSI Oversold Rebound: A reading of 29 is in the oversold zone, and the conditions for a technical rebound are ripe.

Looking upwards, the PI should surpass the level of 0.2295 USD to strengthen the recovery towards the central pivot point level of 0.2755 USD. A breakthrough at 0.2295 USD will clear the resistance of recent highs, opening up space for further upside. 0.2755 USD is the medium-term target, and achieving it would represent an increase of about 37% from the current price.

Key Price Level Analysis: $0.20 Defense Battle

If the final closing price falls below 0.1996 USD, it may test the S1 pivot point at 0.1731 USD. 0.1996 USD is a recent low and a key support level on the daily chart. The outcome at this price level will determine the short-term direction of the Pi Network price prediction. Holding above 0.1996 USD means that the current consolidation is a healthy bottoming process, while a drop below may trigger a technical breakdown, leading to a deeper correction.

The S1 pivot point at 0.1731 USD is the next important support. The pivot point is a commonly used method for calculating support and resistance in technical analysis, derived from the high, low, and closing prices of the previous trading period. The S1 pivot point is usually the first significant support level; if this level is broken, market sentiment will deteriorate significantly.

From the perspective of risk-reward ratio, establishing a long position around $0.20 is attractive. The stop loss can be set below $0.1996, with a target price of $0.2755, resulting in a risk-reward ratio of approximately 1:10. This asymmetric risk-reward structure is an ideal trading setup in technical analysis.

Over-the-Counter Trading Pressure: Unique Challenges in Pi Network Price Forecasting

As previously mentioned by FXStreet, most PI tokens are still traded over the counter, making it difficult to track supply flow. Nevertheless, the ongoing pullback frenzy is largely driven by over-the-counter sell-offs, as wallet balances on Centralized Exchanges (CEX) record very few inflows.

The enormous scale of the over-the-counter trading market is a unique phenomenon of the Pi Network. Due to the slow listing progress of PI on mainstream exchanges, a large number of early users conduct trades through over-the-counter channels. The prices of these over-the-counter trades are usually lower than the CEX prices, and the trading volume is difficult to quantify. When a large number of users need to cash out, significant selling pressure arises in the over-the-counter market, and this selling pressure ultimately transmits to the CEX market through arbitrage activities.

This structural issue makes Pi Network price prediction more difficult than that of other mainstream coins. Even if CEX data shows net outflows and stable demand, hidden selling pressure in the OTC market may erupt at any time. This structural problem can only be fundamentally resolved when the OTC supply is fully digested or when PI is listed on more mainstream exchanges to increase liquidity.

At the current stage, Pi Network price prediction must consider this dual market structure. The technical indicators and capital flows of the Centralized Exchange (CEX) provide one perspective, but the dynamics of the over-the-counter market are equally important. Investors should remain cautious and not make aggressive decisions based solely on CEX data.