Pi Network (PI) price prediction: Pi2Day GenAI statement indicates a small rebound, suggesting a trend reversal

Gate News, earlier, the price of Pi Network (PI) has slightly rebounded, as the discussion about the potential features of the artificial intelligence (GenAI) to be announced on Pi2Day on June 28 is heating up, currently staying above the key psychological and trend line support level.

The Pi Core team further intensified people's attention to GenAI and its potential relationship with the Pi Network. These rumors originated from Nicolas Kokkalis, one of the founders of Pi Network, participating in the GenAI panel discussion at the Consensus 2025 conference hosted by Coindesk from May 14th to May 16th.

It is worth noting that on the first day of the consensus meeting, Pi Network plummeted by 27%, triggering a sustained pullback. The price of PI has dropped by nearly 70% from its highest trading price of $1.67 in May.

This post reveals the potential features or network uses of GenAI, which will be announced on June 28th. The Pi Network community has designated this day as Pi2Day.

PiScan data shows that there are 268.4 million PI tokens to be unlocked in July, the highest monthly unlock amount as of October 2027. Typically, if investor confidence is low, token unlocks often lead to increased supply pressure.

As risk aversion spreads to the entire cryptocurrency market, the bearish momentum of Pi Network may be significantly strengthened. A pioneer of Pi Network has indicated that the vague statements associated with the GenAI feature are just a smokescreen to cover up its failed roadmap, and nothing more than another smoke bomb.

The recovery of Pi Network is approaching the trend line breakthrough

FXStreet analyst Vishal Dixit stated that as the PI coin price rebounded, PI held above the key short-term support trendline formed by the lows of May 17, May 31, and June 18.

In order to resume the bullish recovery trend, PI must break above the uptrend line, closing price above $0.55, on par with the low on April 29th.

In this case, PI's reversal rebound may rise to the previous week's high of $0.60.

Moving Average Convergence/Divergence (MACD) indicator shows that MACD and the signal line are approaching a crossover, suggesting a possible trend reversal. Investors can consider the new rising green histogram after the crossover as a potential buying signal from the zero line.

The relative strength index (RSI) indicates a rebound from the oversold level, indicating a decrease in selling pressure.

However, if the closing price falls below the support trend line at $0.4935 (weekly low), it may continue to decline towards the $0.40 integer level tested last on June 13th.

(Source: Trading View)