7,8% Growth in the Last 24h: Is PI on the Way Back?
Pi Network (PI) surged 7.8% over the last 24 hours, bouncing from a low of $0.86 to reach an intraday high of $1.08. This rally followed weeks of downward pressure within a descending channel, suggesting a possible short-term bottom after retesting support near $0.8627.
Despite the bounce, Pi remains below the 50-period Exponential Moving Average (EMA), currently at $1.2213. Technical resistance is forming at $1.10, and a breakout above $1.1089 is needed to confirm bullish continuation.
If successful, the next upside targets sit at $1.22 and $1.35. Failure to sustain this momentum could lead the price back toward $0.86—or even lower to $0.64.
PI’s Binance Listing Delays Continue to Cloud Sentiment
Much of the recent volatility can be traced to Binance’s decision not to include Pi in its latest community vote, despite 86% of voters supporting its listing. This omission led to investor disappointment and fresh selling pressure, especially amid already fragile sentiment.
Analysts suggest Binance’s hesitation may be linked to concerns over the network’s maturity and infrastructure readiness. Until these issues are addressed, listing delays may continue to weigh on Pi’s price action.
Volatility Triggers at a Glance:
- Binance listing uncertainty despite strong user support
- Unconfirmed token burn rumors adding confusion
- Hawkish macro conditions tied to Fed policy
- User frustrations tied to migration-related token losses
With price action increasingly driven by sentiment, Pi’s lack of clear milestones adds to its speculative profile.
Pi Coin Price Levels and Outlook: What to Watch Now
From a technical standpoint, Pi must break above $1.1089 and hold above $1.20 to signal a trend reversal. Beyond that, the $1.35 and $1.51 levels present intermediate targets.
On the downside, support is found at $0.8627, with $0.6441 and $0.4414 as deeper levels of risk.
Market performance will likely remain sensitive to macro factors such as the Federal Reserve’s interest rate policy and broader crypto sentiment.
Key Technical Levels
- Resistance: $1.1089, $1.2213 (EMA), $1.3536
- Support: $0.8627, $0.6441, $0.4414
A break above $1.20 with volume confirmation could mark the start of a broader trend shift, but until then, caution remains warranted.
What Caused the Previous Sell-Off in PI?
Before the recent bounce, Pi saw sustained losses. Here’s what drove the downtrend:
- Macroeconomic Pressure: The Federal Reserve’s rate pause at 4.50% failed to calm markets. Uncertainty around future cuts is weighing on speculative assets, including crypto.
- Token Supply Concerns: Circulating supply stands at 6.84 billion, with a total cap of 100 billion. Rumors of a token burn were never confirmed, heightening inflation concerns among investors.
- Exchange Listing Disappointments: A widely expected Binance listing around March 14 did not materialize, leading to a sharp drop as expectations were abruptly reset.
- Migration-Related Losses: Operational issues, including lost tokens due to grace period lapses, further eroded user trust during Pi’s network transition.
Final Thoughts: Short-Term Optimism, Long-Term Uncertainty
While Pi Coin’s 7.8% jump signals renewed interest, it has yet to break through key resistance levels or resolve its structural issues. Without confirmation of exchange listings, a transparent tokenomics roadmap, and consistent network performance, Pi remains a speculative asset navigating a volatile environment.
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