Pi Network may be heading toward a steep correction while pushing key changes live on its Mainnet.
PI Forms Bearish Descending Triangle Pattern, Targets Breakdown
As of May 5, 2025, Pi Network’s price chart on the 4-hour timeframe shows a descending triangle pattern. This formation appears when the price creates lower highs while holding horizontal support. It often indicates selling pressure and signals a potential breakdown.
In this case, the triangle began forming in mid-April. Sellers continued to push the highs lower, while buyers maintained a base near $0.57. The pattern tightened before a decisive move, and a sharp drop appears to have started. According to the measured move from the triangle’s height, the breakdown target ranges between $0.4485 and $0.4300. This marks a potential 24% decline from the breakout point.
Meanwhile, the Relative Strength Index (RSI) shows bearish momentum. The RSI sits around 44, below the neutral 50 level, which reflects weakening buying pressure. It also failed to cross above the signal line (yellow line), reinforcing the current downtrend. If RSI continues to stay below 50, it confirms that sellers control the short-term momentum.
The 50-period Exponential Moving Average (EMA), shown in blue, has acted as resistance throughout the formation. The price consistently failed to close above this moving average, confirming the bearish structure. Currently, the EMA sits above the breakout zone, limiting any potential short-term recovery.
Volume also supports the breakdown. A visible spike in volume occurred at the moment of the drop, which validates the descending triangle pattern. Rising volume during a breakdown usually confirms that sellers are in control.
Meanwhile, Pi Network introduced a wallet activation feature designed to simplify access to its Mainnet. The update allows both fully verified and tentatively verified users to activate wallets after completing key security steps and identity checks. This system, now live via the Pi Browser, enables qualified pioneers to create and manage wallets directly on the blockchain. It also opens the door for new users outside the current network. They can join the Mainnet through third-party Know Your Customer (KYC) services that meet Pi’s compliance standards.
One of the main partners in this effort is Banxa, a third-party identity verification platform that satisfies Pi Network’s Know Your Business (KYB) criteria. With Banxa’s integration, Pi can extend KYC availability to a broader audience.
This change is expected to lower entry barriers, increase Mainnet participation, and allow developers to reach more users through Pi apps. Greater accessibility may also support more transaction activity and application testing, helping the ecosystem grow.