Pi Network may be heading toward a steep correction while pushing key changes live on its Mainnet.
As of May 5, 2025, 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.
Pi Network Unlocks Mainnet Access With New Wallet Activation and Banxa KYC Integration
The cryptocurrency is pushing new changes on its Mainnet as it rolls out a wallet activation feature designed to simplify access. According to the latest update, both fully verified and tentatively verified users can activate wallets after completing several key security steps and passing identity checks.
This system, now live via the Pi Browser, allows qualified pioneers to directly create and manage wallets on the blockchain or 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.
