PI big dump approaching historical lows! Ulu Ventures defies the trend to support Pi Network, can it turn the situation around?

At a critical moment when the price of PI Token is less than 4% above its historical low, early seed investor Ulu Ventures publicly includes Pi Network in its investment portfolio, reaffirming long-term support for the project. Despite gaining institutional backing, PI still faces heavy selling pressure, with exchange Holdings reaching 414.6 million USD, indicating that liquidation risks still exist.

Ulu Ventures casts a vote of confidence again

Ulu Ventures participated in the seed round financing of Pi Network in 2023 along with 137 Ventures and Designer Fund. Now, the company has officially included Pi Network in its portfolio, which is seen as a reaffirmation of the project's long-term value.

For the Pi community (pioneers), this is undoubtedly a shot in the arm, indicating that major investors are still optimistic about its future development, even in the current market sentiment.

PI price struggles near historical lows

As of the time of writing, PI is reported at $0.3489, down over 10% in the past week and more than 22% in the past month. Two weeks ago, PI reached a historical low of $0.33515, and the current price is less than 4% higher.

According to Pi scan data, the value of PI tokens held by centralized exchanges has reached 414.6 million USD, indicating potential concentrated selling pressure and liquidation risks in the market.

Technical Analysis: Descending Wedge Nearing Breakout Point

The daily chart shows that PI is in a descending wedge pattern, which is typically seen as a bullish reversal signal if it breaks upward.

Support level: 0.33–0.34 USD

Resistance level: above the downtrend line

Short-term target (if broken): 0.42–0.45 USD

The Bollinger Bands indicate that volatility is narrowing, suggesting an impending directional movement; the MACD remains in the negative zone, with weak momentum; the Chaikin Money Flow (CMF) and the Accumulation/Distribution line both show continued outflow of funds, indicating insufficient buying pressure.

Market Outlook: The Key is the 0.33 USD Support

If the buyer successfully holds the support at $0.33 with an increase in trading volume, PI is expected to experience a technical rebound, challenging the $0.42–0.45 range.

On the contrary, if the support is broken, market panic may intensify, and prices may drop to unknown lows, setting a new low.

Conclusion

Ulu Ventures' counter-cyclical support has brought a confidence boost to the Pi Network, but in the short term, the PI Token is still subject to heavy dumping pressure and market pessimism. Investors need to closely monitor the defense of the $0.33 support level and changes in exchange Holdings, as this will determine whether the PI can reverse from the brink of a crash. For more real-time market data and on-chain analysis, please follow the official Gate platform.