經過重大回調，PI網絡的價格顯示了恢復的早期跡象

PI Network的價格顯示出重大回調後的早期恢復跡象，但多重挑戰可以防止持續增長

Pi Network’s (PI) price has shown early signs of recovery following a significant pullback, but multiple challenges could prevent sustained growth.

PI Network（PI）的價格已經顯示出重大回調後的早期恢復跡象，但多個挑戰可以防止持續增長。

The cryptocurrency is currently trading at $0.7796, up 6% in the last 24 hours. However, it remains 38% lower over the past week and 70% below its all-time high (ATH) of $2.99 hit in February.

加密貨幣目前的交易價格為0.7796美元，在過去24小時內增長了6％。但是，在過去一周中，它仍會降低38％，比2月的2.99美元命中率低70％。

The daily trading volume has also increased slightly to $221 million, a 0.8% rise that could indicate renewed market interest following the recent decline.

每日交易量也略有增加到2.21億美元，增長了0.8％，這可能表明在最近下降後市場興趣。

Technical analysis presents a mixed picture for the short-term price trends. The Relative Strength Index (RSI) is now hovering near 51, which suggests a neutral market trend.

技術分析為短期價格趨勢提供了混合圖片。現在，相對強度指數（RSI）徘徊在51附近，這表明市場趨勢是中立的。

The 20-day and 30-day moving averages have also turned positive, which indicates some return of buying pressure. However, shorter-term indicators like the 10-day exponential moving average (EMA) and the 10-day simple moving average (SMA) continue to flash sell signals.

為期20天和30天的移動平均水平也變成了積極的態度，這表明購買壓力有所回報。但是，較短的指標諸如10天的指數移動平均線（EMA）和10天簡單移動平均線（SMA）繼續閃爍銷售信號。

Support appears to be forming around the $0.77 level. For PI to confirm a stronger recovery trend, it would need to break above the $0.84 resistance zone.

支持似乎圍繞0.77美元的水平形成。為了使PI確認更強的恢復趨勢，它需要超過0.84美元的電阻區。

Persistent Ecosystem Issues

持續的生態系統問題

One of the main hurdles facing Pi Network is the ongoing difficulty many users have in accessing their tokens.

PI網絡面臨的主要障礙之一是許多用戶訪問其令牌持續的困難。

Since the mainnet launch in February, Know Your Customer (KYC) verification delays have prevented numerous early miners from being able to freely use or trade their coins. This situation has created frustration within the community, especially among those who participated in the project’s early stages with expectations of being able to utilize their tokens soon after mainnet launch.

自2月份的Mainnet發布以來，了解您的客戶（KYC）驗證延遲使許多早期的礦工無法自由使用或交易其硬幣。這種情況在社區內部造成了挫敗感，尤其是在參加該項目早期階段的人中，期望能夠在Mainnet發布後儘快利用其令牌。

The absence of PI from major cryptocurrency exchanges is another pressing concern. While the token is available on platforms like Gate.io, Bitget, and OKX, it has yet to secure listings on top-tier exchanges such as Coinbase and Binance.

主要的加密貨幣交換缺乏PI是另一個緊迫的問題。雖然該令牌可在Gate.io，bitget和Okx等平台上使用，但它尚未在Coinbase和Binance等頂級交易所上獲得列表。

This limitation has restricted liquidity and wider adoption of the token. Some community members attribute the lack of premium exchange listings to the development team’s limited transparency.

該限制限制了流動性和代幣的更廣泛採用。一些社區成員將缺乏高級交流清單歸因於開發團隊的有限透明度。

Questions have also emerged regarding the promised $100 million Pi Network Ventures fund. This initiative was intended to support new projects within the Pi ecosystem, but visible progress has been minimal.

關於承諾的1億美元的PI Network Ventures基金也出現了問題。該倡議旨在支持PI生態系統中的新項目，但可見的進展很少。

Despite claims of a user base potentially as large as 60 million people, PI currently has few practical applications. The lack of widely used decentralized applications or DeFi services on the network means there is little demand for the token beyond speculative trading.

儘管聲稱用戶群可能大於6000萬人，但PI目前的實際應用很少。網絡上缺乏廣泛使用的分散應用程序或DEFI服務意味著對超越投機交易的代幣的需求很小。

Technical Warning Signs

技術警告標誌

From a technical analysis perspective, Pi Network’s price action is forming what appears to be a bearish pennant pattern on the eight-hour chart. This technical formation, coupled with fundamental concerns, could signal further downside risk.

從技術分析的角度來看，PI網絡的價格動作正在形成八小時圖表上似乎是看跌tennant模式。這種技術形成，再加上基本問題，可能標誌著進一步的下行風險。

The consolidation pattern follows a steep decline that began on May 12, when PI reached $1.6631 ahead of ecosystem news. Since then, the price has fallen below the 50-period moving average.

合併模式始於5月12日的急劇下降，當時PI在生態系統新聞之前達到1.6631美元。從那以後，價格下降到50個週期的移動平均水平。

If PI breaks down from this pattern, technical analysis suggests it could drop to support at $0.5580, representing previous lows from April 9 and April 30. A failure to hold this level could send the price down to $0.40, which would represent a 45% decline from current levels.

如果PI從這種模式中崩潰，技術分析表明，它可能會下降到0.5580美元的支持，這是4月9日和4月30日以前的低點。未能保持此水平的價格可能會使價格下降至0.40美元，這將比當前水平下降45％。

This bearish forecast would be invalidated if PI rises above the psychologically important $1 mark.

如果PI升至心理重要的$ 1分，此看跌預測將無效。

Another factor that may weigh on PI’s price is the ongoing token unlock schedule. Data shows that the network will release 271.18 million tokens over the next 30 days, averaging over 9 million tokens daily. Over the next 12 months, about 1.49 billion tokens will be unlocked.

可能權衡PI價格的另一個因素是持續的令牌解鎖時間表。數據顯示，該網絡將在接下來的30天內發布2.718億個令牌，平均每天超過900萬個令牌。在接下來的12個月中，將解鎖約14.9億個令牌。

With a maximum supply of 100 billion and a current circulating supply of 7.9 billion, the token’s supply will grow by over 92 billion over time. These unlocks increase supply, which can put downward pressure on price without matching demand.

隨著時間的流逝，該代幣的供應最高為1000億，目前的循環供應量為79億，隨著時間的推移將增長超過920億。這些解鎖會增加供應，這可能會使價格下降壓力而不相匹配。

If PI can maintain support above $0.77 and break through resistance at $0.84, it may target the $1 mark once more. However, without addressing key issues like token accessibility, exchange listings, and ecosystem development, substantial price growth appears unlikely.

如果PI可以維持超過0.77美元的支持並以0.84美元的價格突破抵抗，則可能再次以1美元的目標為目標。但是，如果不解決令牌可訪問性，交換清單和生態系統開發等關鍵問題，那麼價格增長似乎不太可能。

The market will be watching closely to see if Pi Network can overcome these challenges and deliver on its promises to its large community of users.

市場將密切關注，以查看PI網絡是否可以克服這些挑戰並將其承諾交給其大型用戶社區。