Ulu Ventures Adds Pi Network to Portfolio Despite PI Token Decline
Pi Network Receives Institutional Support
- Ulu Ventures, an early seed investor, added Pi Network to its portfolio.
- Despite this backing, the PI token faces significant selling pressure.
- Current trading price is $0.3489, down over 10% in the past week and 22% in the last month.
- All-time low was $0.33515, with current levels only 4% above that mark.
- Holdings on centralized exchanges total $414.6 million, indicating potential liquidation by investors.
Technical Analysis of PI Token
- PI is in a descending wedge pattern, typically a bullish setup if it breaks out.
- Resistance at upper trendline; support around $0.33–$0.34.
- Bollinger Bands indicate tightening volatility; MACD shows weak momentum.
- Chaikin Money Flow signals ongoing capital outflows; accumulation/distribution line reflects lack of buying strength.
- If support holds, potential breakout could target $0.42–$0.45.
- Failure to maintain support may lead to new lows.
PI’s price action with indicators. | Source: TradingView