Pi Network Price Prediction: The team hints at a second Mainnet migration in 2025, and the PI downside risk has not yet been eliminated.

Pi Network (PI) has recently faced pressure in its trend, even though the official announcement of Pi Hackathon 2025 and hints from the host suggest that a second migration from Testnet to Mainnet may occur this year, the price continues to fluctuate within a falling channel. The technical indicators show that if the key support cannot be maintained, the Pi coin may face further pullback.

Positive news hard to change the downturn

As of August 18, the PI price has fallen over 3% compared to the previous day, currently reported at $0.37, ending a brief consolidation around $0.40 and breaking out of the horizontal consolidation range.

Although the Pi core team announced last Friday that the Pi Hackathon 2025 is open for registration and released a total prize of 160,000 Pi to encourage developers to create Mainnet applications, the community's response has been mixed.

Some pioneers (Pi coin holders) question whether the sudden halt of the monthly hackathons since 2023 can be avoided now that they have restarted.

The host hinted that there may be a second migration in 2025

In a community discussion, a Pi Network administrator responded to the question "Is it possible to conduct a second migration this year?" with, "I indeed think it is possible."

This means that the PI token may migrate in bulk from the Testnet to the Mainnet again in 2025, bringing potential changes to the ecosystem. This statement was released before the meeting between the administrator and Pi founders Nicolas Kokkalis and Chengdiao Fan, with the specific meeting date yet to be announced.

Technical Analysis: Descending Wedge Pressure Continues

(Source: Trading View)

The 4-hour chart shows that PI is in a descending wedge formation, with increased downside risk:

Support level: 0.3334 USD (August 6 low).

Resistance level: 0.4000 USD, once broken, it is expected to challenge the 50-period EMA (0.4421 USD).

RSI: Positioned at 41 and continuing to decline, indicating insufficient buying momentum.

MACD: Approaching the signal line, the red histogram is rising but is located below the signal line, suggesting an increase in bearish momentum.

If the price falls below the support at 0.3334 USD, market sentiment is likely to deteriorate further, and bears may take full control of the trend.

Short-term Outlook and Focus Points

In the short term, the trend of PI coin will depend on two major factors:

1. Can it hold the 0.3334 USD support to avoid a larger fall.

2. The breakout situation at the resistance level of 0.4000 USD, if it stabilizes at this price level, may attract buying pressure to flow back and challenge higher targets.

Although the second migration and the hackathon event may inject vitality into the ecosystem in the medium to long term, investors still need to be cautious and observe in the context of a bearish technical outlook.

Conclusion

The Pi Network is currently caught in a tug-of-war between news and technical factors. Even though the second migration in 2025 and the developer incentive program bring imagination to the market, the downward risk still exists under the pressure of the descending wedge and the sluggish RSI. Investors should closely monitor the two key price levels of 0.3334 and 0.4000 USD, as they will determine the next directional trend of the Pi coin.