I just noticed that PI coin is currently facing some difficulties at the current price level. This coin is under pressure near the 50-day EMA line at approximately $0.1771, after being strongly rejected at $0.1919. What is causing the coin's price to retreat? According to data from PiScan, about 4.37 million PI have been transferred to exchanges in the past 24 hours, indicating that quite a few people are taking profits.

By the way, Pi Network just celebrated the one-year anniversary of its Mainnet launch. The numbers are quite impressive — over 16 million verified users on the network, and the team is focusing on ecosystem stability. Founders Chengdiao Fan and Nicolas Kokkalis emphasized developing token utility and regulatory compliance. However, the coin's price is still under market pressure.

From a technical perspective, PI coin has recovered 40% since February but is now testing the 50-day EMA. The latest data shows the price at $0.17 with a slight increase of 1.29% over 24 hours, but momentum seems to be waning. If it cannot hold this level, the coin's price could fall to $0.1533. Conversely, to rebound, it needs to break through and sustain above $0.1919.