Pi Network Tests $0.38 Support Amid 14.20% Weekly Drop

Pi Network (PI) is currently facing a critical price test near the $0.38 level, a key support zone that traders and analysts are closely monitoring. As of the latest update on August 2, 2025, the token is trading at $0.3840, down 0.2% in the past 24 hours. This follows a weekly decline of 14.20%, significantly underperforming the broader cryptocurrency market, which saw a modest 0.10% decline, and the Layer 1 segment, which gained 1.50% over the same period. The market cap for PI remains at $3.01 billion, though daily trading volume has dropped 46% to $35.19 million, signaling reduced participation and liquidity [1].

The weekly chart reveals a bullish engulfing candle pattern, suggesting potential buying momentum as the market tests this key support level. Analysts note that if the price holds above $0.38, it could signal renewed interest from buyers and potentially lead to a short-term recovery. Resistance is currently clustered around the $0.40–$0.41 range, and a successful breakout from this level could push the price toward $0.50–$0.60 by late August, according to some market observers. However, a failure to hold above $0.38 could lead to further declines, with CoinCodex warning that a breach below this level could expose the token to a drop toward $0.30 [1].

Binance’s more conservative model forecasts that the price is likely to remain in a consolidation phase between $0.38 and $0.39 until at least September. Technical indicators such as EMA and MACD are currently cautious, suggesting that while a recovery is possible, it may require a stronger move above $0.40 for the bullish case to gain traction [1].

In terms of fundamentals, Pi Network has recently unlocked 3.5% of its total supply, a move that could introduce short-term liquidity pressures but also signals progress in its token distribution strategy. The project has also emphasized the development of a mobile-friendly platform with real-world applications, which could help improve adoption and utility. However, experts have highlighted the risk of a bearish trend in September, warning that the market may face renewed downward pressure during that period [1].

Analysts caution that while the technical indicators show signs of a potential rebound, the project’s long-term success will depend on factors such as the pace of mainnet development and the ability to attract developers and real-world use cases. Token unlock events also remain a concern, as they can exacerbate selling pressure and increase market volatility. Traders are advised to employ risk management strategies, including stop-loss orders, given the current uncertainty [2].

As the broader cryptocurrency market continues to experience volatility, Pi Network’s mobile-mining model distinguishes it from traditional proof-of-work or proof-of-stake protocols. While this feature has attracted a unique user base, it also adds complexity to its price behavior. Observers are keeping a close eye on whether Pi can maintain a bullish bias or if it will face renewed downward momentum in the coming weeks. Key to this will be the price’s ability to hold above $0.38 and generate follow-through buying interest.

The upcoming months will be pivotal for Pi Network, as it seeks to consolidate gains and test its next level of resistance. Until then, traders and investors will likely remain focused on price action and on-chain developments to determine the token’s immediate trajectory.

Source:

[1] Pi Network Price Update August 2025. https://coinfomania.com/pi-network-price-update-august-2025/

[2] Coinspeaker's Profile. https://www.binance.com/en/square/profile/coinspeaker