PI网络（PI）令牌显示出50％后的恢复迹象

PI Network的本地令牌（PI）在最近几周经历了高波动性后显示出恢复的迹象。加密货币跌幅近50％

Pi Network's native token (PI) is showing signs of recovery after experiencing high volatility in recent weeks. The cryptocurrency, which plunged nearly 50% from May 12 to May 17, has begun to reverse its downtrend on the price charts.

PI Network的本地令牌（PI）在最近几周经历了高波动性后显示出恢复的迹象。从5月12日至5月17日起，加密货币猛增了近50％，已开始逆转其价格表上的下降趋势。

Over the last four days, PI has gained 20%, with a 14% increase in the last 24 hours alone. The token currently trades at $0.84, marking a 30% gain over the past month.

在过去的四天中，PI增长了20％，仅在过去24小时内增长了14％。代币目前的交易价格为0.84美元，在过去一个月中增长了30％。

Trading volume has climbed substantially, surging more than 150% to reach $548 million. This development comes after the recent price drop to $0.69 on May 17.

交易量已经大大攀升，飙升了150％以上，达到5.48亿美元。这一发展是在5月17日的价格下降到最近的0.69美元之后。

According to data from Coinalyze, bullish conviction is present but not overwhelming in the short term. Open Interest has risen by 17%, suggesting that speculative traders might be willing to go long as short-term performance turns bullish.

根据Coinalze的数据，看涨信念是存在的，但在短期内没有压倒性。开放兴趣增长了17％，这表明投机性交易者可能愿意长期以来的绩效转向看涨。

The funding rate remains just slightly above zero. Together, these metrics indicate that short-term expectations are positive but not overheated.

资金率略高于零。这些指标一起表明，短期期望是积极的，但没有过热。

Technical Analysis Points to Cautious Optimism

技术分析指出谨慎的乐观

On the daily chart, PI has pulled back below the 78.6% Fibonacci retracement level based on its rally to $1.6 earlier this month. The token recently broke through the $0.745 level, a local high from April, which shifted the market structure in a bullish direction.

在每日图表上，PI基于本月初的集会为1.6美元，将斐波那契回曲水平低于78.6％。该代币最近破产了$ 0.745的水平，这是4月起的当地高点，这将市场结构朝着看涨的方向转移。

The Relative Strength Index (RSI) sits in the neutral range at 54, indicating neither an overbought nor oversold condition. Major moving averages for the 10, 20, 30, and 50-day periods are all trending upward.

相对强度指数（RSI）位于中性范围为54，表明既不是过分的也不是超卖状况。 10、20、30和50天的主要移动平均值都向上趋势。

The Chaikin Money Flow (CMF) has stayed above +0.05 for the past ten days, and the Accumulation/Distribution indicator has also trended higher. These are two signs of strong buying pressure, resulting from the trading volume surge on May 11 and 12.

在过去的十天中，Chaikin货币流量（CMF）一直保持在+0.05的高度，并且累积/分配指标也越来越高。这是5月11日至12日的交易量激增，这是强烈购买压力的两个迹象。

However, zooming in on the 4-hour chart reveals a local resistance zone at $0.9, which appears as a bearish order block. Volume indicators that were strongly bullish on the daily timeframe appear neutral on the 4-hour chart.

但是，在4小时的图表上进行缩放揭示了一个局部阻力区为0.9美元，这是看跌订单块。在每日时间表上强烈看涨的音量指标在4小时图表上显得中立。

Project-Specific Challenges Could Limit Growth

特定项目的挑战可能会限制增长

Despite the positive price action, Pi Network faces several obstacles that could hamper its recovery above $1. Millions of users remain frustrated by mainnet migration and Know Your Customer (KYC) verification delays, which limit access and transfers, particularly in China.

尽管采取了积极的价格行动，但PI网络仍面临几个障碍，可能会阻碍其回收率高于1美元的障碍。数以百万计的用户仍然因主网迁移而感到沮丧，并了解您的客户（KYC）验证延迟，这限制了访问和转移，尤其是在中国。

The token is not listed on major exchanges like Coinbase or Binance. Even though the community voted for a Binance listing, the token has yet to appear on the exchange. Pi's market depth on platforms such as OKX remains below $100,000, limiting its growth potential.

代币未在Coinbase或Binance等主要交易所中列出。即使社区投票赞成Binance上市，令牌尚未出现在交易所中。 PI在OKX等平台上的市场深度仍低于100,000美元，从而限制了其增长潜力。

Utility remains a concern. Without significant decentralized finance projects or applications, 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, highlighting the fragility of sentiment without real use cases.

公用事业仍然是一个问题。没有大量分散的金融项目或应用程序，对PI的需求主要是投机性的。在5月14日的1亿美元PI Network Ventures Fund公告迅速扭转了$ 1.35的集会上，突出了没有真实用例的情绪脆弱性。

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.

预定在明年的14.7亿PI代币将解锁，除非由代币烧伤或需求增加，否则这可能会增加销售压力。

If buyers can maintain support near $0.74 and push through resistance at $0.90, a move back towards $1 is possible, especially if trading volume remains strong. However, if momentum fades and structural problems persist, PI could fall below $0.74 and trigger another downward trend.

如果买家可以维持$ 0.74的支持并将阻力推向0.90美元，则可以向1美元转移到1美元，尤其是在交易量仍然强劲的情况下。但是，如果动量逐渐消失和结构性问题，PI可能会降至0.74美元以下，并引发另一个下降趋势。

Bitcoin's performance may also influence PI's trajectory, as BTC is currently setting new all-time highs. This positive market sentiment could help PI break past the $0.9 barrier in the coming days.

比特币的性能也可能影响PI的轨迹，因为BTC目前正在设定新的历史最高点。这种积极的市场情绪可以帮助Pi在未来几天超越$ 0.9的障碍。