Pi Network (PI) Jumps 11% on Supply Shock, but Faces Key Test Ahead

Pi Network (PI) is back in the spotlight after an 11% price surge triggered by the withdrawal of over 86 million tokens from OKX, sparking speculation of a coordinated supply squeeze. The move has intensified bullish sentiment, especially as technical indicators begin to align with the price action.

Momentum indicators like the DMI and EMA suggest growing strength, and a potential golden cross formation hints at the possibility of a continued breakout. However, not all signals are fully confirmed—volume-based metrics like the CMF show lingering indecision, making the next few days critical for confirming PI’s direction.

Technical Indicators Support PI Rally Amid Supply Shock Speculation

Pi Network (PI) surged 11% after more than 86 million tokens were withdrawn from the OKX exchange, drastically reducing the platform’s PI reserves to just 21 million.

The sudden exodus of tokens sparked speculation of a coordinated supply squeeze, with some investors interpreting the move as a strategic effort by large holders to limit circulating supply and potentially drive the price higher.

Community voices on X described the event as a “power move,” pointing to growing confidence in the asset’s future trajectory.

While this triggered bullish momentum and boosted PI to the top of CoinGecko’s trending list, questions still linger regarding its long-term fundamentals, particularly its mainnet rollout, exchange listings, and broader use-case development.

PI DMI. Source: TradingView.

From a technical perspective, PI’s Directional Movement Index (DMI) shows signs of growing strength. The ADX—a metric that measures the strength of a trend—has climbed from 12.46 to 16.6 in the past day, signaling that momentum is building. Typically, ADX values above 20 indicate a developing trend, with readings above 25 considered strong.

Meanwhile, the +DI line, which tracks bullish pressure, sits at 25.98—up from 20.14 yesterday, though slightly down from its peak earlier today at 29.15. The -DI, representing bearish pressure, has dropped significantly to 14.45 from 20.84 yesterday.

This divergence suggests that bulls are gaining control and sellers are stepping back, supporting the narrative that Pi Network may be entering a more decisive upward trend if this momentum continues.

PI CMF Drops After Brief Spike, Signaling Fading Buying Pressure

Despite the recent surge, PI CMF is now at -0.03.

Chaikin Money Flow (CMF), a volume-based oscillator that measures buying and selling pressure over a given period. CMF values range from -1 to +1, with readings above 0 suggesting accumulation (buying pressure) and below 0 indicating distribution (selling pressure).

The closer the value is to either extreme, the stronger the pressure it reflects.

PI CMF. Source: TradingView.

Currently, PI’s CMF stands at -0.03—a notable improvement from -0.17 two days ago but a pullback from yesterday’s +0.09.

This shift shows that while the overall selling pressure has eased significantly, the recent dip back below the zero line suggests that buyers haven’t fully taken control. A CMF hovering around the neutral zone could imply indecision in the market or a pause after the recent rally.

For bulls to regain full momentum, the CMF would ideally need to push back into positive territory and hold, confirming sustained capital inflows and supporting the case for continued upside.

Golden Cross Setup Builds for PI, But Key Resistance Still in Play

Pi Network’s EMA lines are starting to align in a bullish setup, with a potential golden cross formation on the horizon. A golden cross occurs when a short-term EMA crosses above a long-term EMA, signaling the possibility of a sustained uptrend.

If this pattern confirms, PI price could gain enough momentum to challenge the resistance at $0.96.

A breakout above that level may open the door for further gains toward $1.30, and with strong follow-through, the price could even reach $1.67—levels not seen in recent trading activity.

PI Price Analysis. Source: TradingView.

However, the bullish scenario is not guaranteed. If the current uptrend loses steam and buying pressure weakens, Pi Network could retrace to test support at $0.66.

A breakdown below that level would likely shift sentiment more bearish, exposing the token to further downside toward $0.57.

While technical signals lean optimistic for now, traders will be closely watching whether the golden cross materializes and if resistance levels can be cleared convincingly.

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