PI網絡（PI）令牌顯示揮發性週期後恢復的跡象

PI Network的本地令牌（PI）在5月份發生動蕩的時期後顯示出恢復的跡象，隨著加密貨幣試圖賠償更高的價格目標，公牛捍衛了關鍵支持水平。

Pi Network's native token (PI) is showing signs of recovery after a volatile period in May, with bulls defending key support levels as the cryptocurrency attempts to reclaim higher price targets.

PI Network的本地令牌（PI）在5月份發生動蕩的時期後顯示出恢復的跡象，隨著加密貨幣試圖賠償更高的價格目標，公牛捍衛了關鍵支持水平。

What Happened: The token is currently trading at $0.84, showing a 7.8% increase in the last 24 hours and a 30% rise over the past month. This marks a significant turnaround from PI's downtrend, which saw the token decline by 50% to hit a low of $0.69 on May 17 after a brief rally to $1.6 earlier in the month.

發生的事情：代幣目前的交易價格為0.84美元，顯示過去24小時的7.8％增長，在過去一個月中增長了30％。這標誌著PI的下降趨勢的明顯轉變，該趨勢下降了50％，在本月早些時候的短暫集會至1.6美元之後，在5月17日的低點達到了0.69美元。

Over the last four days, PI has gained 20%, accompanied by trading volume climbing. However, current volume levels don't match the surge seen a week ago when PI rallied 114% in six days.

在過去的四天中，PI增長了20％，伴隨著交易量攀升。但是，當前的體積水平與一周前PI在六天內漲到114％時相匹配。

Data from Coinalyze reveals that bullish conviction is still modest in the short term. While the price rose by 14% in the last 24 hours with Open Interest increasing by 17%, the funding rate is just slightly above zero. These metrics suggest that short-term expectations are bullish but not overheated.

來自Coinalze的數據表明，在短期內，看漲信念仍然是適中的。雖然在過去的24小時內，價格上漲了14％，開放利息增加了17％，但資金率略高於零。這些指標表明，短期期望是看好的，但沒有過熱。

The positive sentiment might be partially influenced by Bitcoin's (BTC) movements toward new all-time highs.

積極的情緒可能會受到比特幣（BTC）向新歷史高潮的動作的部分影響。

Daily trading volume has surged by more than 150% to $548 million, indicating renewed market interest following a nearly 50% plunge from May 12 to May 17, when PI hit a low of $0.69.

每日交易量增長了150％以上，達到5.48億美元，這表明從5月12日至5月17日下跌近50％，當時PI的低點達到0.69美元。

Technical Outlook For PI: The technical picture for PI presents a mixed but cautiously optimistic outlook. On the daily chart, PI has retraced below the 78.6% Fibonacci retracement level, based on the rally to $1.6 earlier this month.

PI的技術前景：PI的技術圖片表現出混合但謹慎的樂觀前景。在每日圖表上，PI基於本月早些時候的集會，低於78.6％的斐波那契反回置水平。

This rally breached the $0.745 level, a local high from April, which shifted the market structure to bullish. However, the sudden rally and subsequent retracement mean the daily timeframe doesn't show strong bullish momentum.

這次集會違反了0.745美元的水平，這是4月以來的當地高點，這將市場結構轉移到看漲。但是，突然的集會和隨後的回答意味著每天的時間表並沒有表現出強烈的看漲勢頭。

The Relative Strength Index sits in the neutral range at 54, indicating neither overbought nor oversold conditions. The MACD remains above the zero line, although red histogram bars reflect the quick retracement.

相對強度指數位於中性範圍為54，表明既不過多也沒有過多的條件。 MACD仍保持在零線之上，儘管紅色直方圖桿反映了快速回撤。

The Chaikin Money Flow (CMF) has stayed above +0.05 over the past ten days, and the Accumulation/Distribution indicator has trended higher. These two signals suggest high buying pressure, resulting from the trading volume surge on May 11-12.

在過去的十天中，Chaikin貨幣流量（CMF）一直保持在+0.05的高度，並且累積/分配指標的趨勢更高。這兩個信號表明，由於5月11日至12日的交易量激增造成的高購買壓力。

On the 4-hour chart, a local resistance zone appears at $0.9, forming a bearish order block. Volume indicators that were firmly bullish on the daily timeframe appear neutral on the 4-hour chart, with neither the CMF nor the A/D line showing heightened buying pressure.

在4小時圖表上，局部電阻區的出現為0.9美元，形成了看跌訂單。在每日時間框架上堅定看漲的音量指標在4小時圖表上顯得中立，CMF和A/D線都沒有顯示出較高的購買壓力。

Project-Specific Challenges Remain: Despite technical improvements, Pi Network faces several fundamental challenges that could limit its price recovery.

特定於項目的挑戰仍然存在：儘管技術有所改進，但PI網絡仍面臨一些基本挑戰，可能會限制其價格恢復。

The token is still sitting at 77% below its all-time high of $2.99 set in February. Millions of users are still frustrated by mainnet migration and know-your-customer verification delays, which limit access and transfers, especially in China.

該令牌仍低於2月份的2.99美元的歷史高處77％。數以百萬計的用戶仍然對主網遷移和知識客戶驗證延遲感到沮喪，這限制了訪問和轉移，尤其是在中國。

The token also lacks listings on major exchanges like Coinbase or Binance, despite community support for such listings. Market depth on platforms such as OKX remains below $100,000, restricting growth potential due to limited liquidity.

儘管社區對此類列表的支持，但令牌還缺​​少有關Coinbase或Binance等主要交易所的清單。 OKX等平台的市場深度仍低於100,000美元，這限制了流動性有限的增長潛力。

Another concern is utility - in the absence of significant DeFi projects or dApps, demand for PI is primarily speculative. A rally to $1.35 just before the $100 million Pi Network Ventures fund announcement on May 14 quickly reversed, demonstrating how fragile sentiment can be without real use cases.

另一個問題是效用 - 在沒有重要的Defi項目或DAPP的情況下，對PI的需求主要是投機性的。在5月14日的1億美元PI Network Ventures Fund公告迅速推翻之前，一場集會至1.35美元，這表明沒有實際用例的情況下的脆弱情緒。

More than 1.47 billion PI tokens are scheduled to unlock over the next year, which could increase selling pressure unless balanced by token burns or rising demand.

預定在明年的14.7億PI代幣將解鎖，除非由代幣燒傷或需求增加，否則這可能會增加銷售壓力。

If buyers can maintain support near $0.74 and break through resistance at $0.90, a move toward $1 becomes possible, especially with sustained trading volume. However, if sellers regain control and push the price below $0.74, it could trigger another downward trend.

如果買家可以維持$ 0.74的支持，並以0.90美元的價格突破抵抗，則可以向1美元轉移，尤其是在持續交易量的情況下。但是，如果賣方重新獲得控制權並將價格推高低於0.74美元，則可能會引發另一個下降趨勢。

Unless there's a surge in demand in the short term, PI may struggle to rally past the $0.9 resistance level. However, a move beyond $0.9 with increased buying pressure could offer a buying opportunity for traders.

除非短期內需求激增，否則PI可能難以集會超過0.9美元的電阻水平。但是，隨著購買壓力的增加，超過$ 0.9的舉動可以為交易者提供購買機會。