Recently launched Pi token went viral with rumors of outpacing Bitcon and Ethereum is taking a toll after the global market crashed. Pi Coin has taken a hard hit, plunging 24% amid a massive $160 billion market wipeout. However, technical indicators suggest that a comeback could be in the works as selling pressure weakens.
Despite this, experts believe that Pi Coin’s price could surge 50% to 100% if it secures a listing on Binance. While the Pi community is rooting for a rally and Pi core team urges investors to stay strong.
Why Pi Network Price Dropped?
Pi Coin’s decline comes as the broader crypto market faces a sell-off. Trump’s tariff policies are creating a mess in the global market. Reports suggest that institutional investors, including BlackRock, have been offloading Bitcoin and Ethereum, dragging down the entire market. Currently, PI trades at $2.30, down 12.97% in the last 24 hours, with trading volumes dropping 56.7% to $1.53 billion. Its market cap now stands at $15.2 billion.
What Next For Pi Coin Price?
Technical analysis points to a possible recovery. Pi Coin’s Relative Strength Index (RSI) is at 31.36, close to oversold territory. When RSI dips below 30, it signals seller exhaustion, meaning the price could soon bounce back. Additionally, PI’s price has broken below its Bollinger Bands’ lower line, a volatility indicator that suggests the coin is oversold and due for a reversal.
Meanwhile, a Binance survey shows that 86% of participants favor listing Pi Coin on the exchange. A listing would boost liquidity, adoption, and global trading accessibility, which could significantly impact Pi’s price. If Binance lists Pi, a breakout above $3.67 could push it to new highs near $4.20.
Key Levels to Watch
Pi Coin needs to break above the $2.56 resistance level to trigger a rally toward its all-time high of $3—a 44% increase from its current price. However, failure to gain momentum could send Pi tumbling further to $1.62. With selling pressure easing, all eyes are on whether buyers will step in to push Pi Coin backup or if the downtrend will continue.
Credit: Source link
