经过重大回调，PI网络的价格显示了恢复的早期迹象

PI Network的价格显示出重大回调后的早期恢复迹象，但多重挑战可以防止持续增长

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）的价格已经显示出重大回调后的早期恢复迹象，但多个挑战可以防止持续增长。

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.

加密货币目前的交易价格为0.7796美元，在过去24小时内增长了6％。但是，在过去一周中，它仍会降低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2.21亿美元，增长了0.8％，这可能表明在最近下降后市场兴趣。

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.

技术分析为短期价格趋势提供了混合图片。现在，相对强度指数（RSI）徘徊在51附近，这表明市场趋势是中立的。

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.

为期20天和30天的移动平均水平也变成了积极的态度，这表明购买压力有所回报。但是，较短的指标诸如10天的指数移动平均线（EMA）和10天简单移动平均线（SMA）继续闪烁销售信号。

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.

支持似乎围绕0.77美元的水平形成。为了使PI确认更强的恢复趋势，它需要超过0.84美元的电阻区。

Persistent Ecosystem Issues

持续的生态系统问题

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

PI网络面临的主要障碍之一是许多用户访问其令牌持续的困难。

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发布以来，了解您的客户（KYC）验证延迟使许多早期的矿工无法自由使用或交易其硬币。这种情况在社区内部造成了挫败感，尤其是在参加该项目早期阶段的人中，期望能够在Mainnet发布后尽快利用其令牌。

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.

主要的加密货币交换缺乏PI是另一个紧迫的问题。虽然该令牌可在Gate.io，bitget和Okx等平台上使用，但它尚未在Coinbase和Binance等顶级交易所上获得列表。

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.

该限制限制了流动性和代币的更广泛采用。一些社区成员将缺乏高级交流清单归因于开发团队的有限透明度。

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.

关于承诺的1亿美元的PI Network Ventures基金也出现了问题。该倡议旨在支持PI生态系统中的新项目，但可见的进展很小。

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.

尽管声称用户群可能大于6000万人，但PI目前的实际应用很少。网络上缺乏广泛使用的分散应用程序或DEFI服务意味着对超越投机交易的代币的需求很小。

Technical Warning Signs

技术警告标志

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.

从技术分析的角度来看，PI网络的价格动作正在形成八小时图表上似乎是看跌tennant模式。这种技术形成，再加上基本问题，可能标志着进一步的下行风险。

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.

合并模式始于5月12日的急剧下降，当时PI在生态系统新闻之前达到1.6631美元。从那以后，价格下降到50个周期的移动平均水平。

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从这种模式中崩溃，技术分析表明，它可能会下降到0.5580美元的支持，这是4月9日和4月30日以前的低点。未能保持此水平的价格可能会使价格下降至0.40美元，这将比当前水平下降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，此看跌预测将无效。

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.

可能权衡PI价格的另一个因素是持续的令牌解锁时间表。数据显示，该网络将在接下来的30天内发布2.718亿个令牌，平均每天超过900万个令牌。在接下来的12个月中，将解锁约14.9亿个令牌。

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.

随着时间的流逝，该代币的供应最高为1000亿，目前的循环供应量为79亿，随着时间的推移将增长超过920亿。这些解锁会增加供应，这可能会使价格下降压力而不相匹配。

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可以维持超过0.77美元的支持并以0.84美元的价格突破抵抗，则可能再次以1美元的目标为目标。但是，如果不解决令牌可访问性，交换清单和生态系统开发等关键问题，那么价格增长似乎不太可能。

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.

市场将密切关注，以查看PI网络是否可以克服这些挑战并将其承诺交给其大型用户社区。