Pi Network's native token, PI, has declined approximately 12% over the past week, trading near $0.1507. This drop comes amid increased mainnet migrations, which are outpacing withdrawals from exchanges. Data indicates that 2.55 million PI tokens were withdrawn from exchanges in the last 24 hours, suggesting some holders are moving tokens to private wallets, potentially reducing immediate sell pressure. However, the relief may be temporary as 4.36 million PI tokens were migrated from testnet to mainnet on Tuesday, following 7.65 million the previous day. This influx of newly unlocked supply could increase selling pressure. Technical indicators show a bearish trend, with the RSI near 34 and the MACD slightly negative. Key support levels are at $0.1500 and $0.1440, while resistance is at $0.1605, which could signal a bullish shift if breached.