Price Prediction for Pi Coin as It Struggles at Key Resistance

This price barrier has emerged as a crucial level that could determine whether PI initiates a bullish breakout or remains trapped in its downtrend.

Despite shedding nearly 50% of its value in the past 14 days and 71% in last 30 days, Pis community remains optimistic, with some traders speculating a potential rally back toward its all-time high (ATH) of $3. However, technical indicators paint a mixed picture, raising uncertainty about the tokens next move.

Will Pi Coin Break Resistance?

Recent chart patterns suggest Pi Network may be on the verge of a reversal. The cryptocurrency has managed to break out of a descending parallel channel, a pattern often associated with the beginning of an uptrend. However, the price is now retesting support at the upper trendline, making this a critical juncture.

If buyers fail to hold this level, Pi Coin could continue its downward trajectory. On the flip side, if momentum builds, PI may challenge the $0.86 resistance and potentially push toward the psychological $1 mark.

For a confirmed uptrend, Pi Network price must break above the $1.51 resistance, a move that could set the stage for further gains toward its previous highs.

Challenges Ahead: Can Pi Crypto Overcome Its Hurdles?

While optimism remains, Pi Network still faces several significant obstacles:

Limited Exchange Accessibility: The lack of a fully open mainnet restricts liquidity and prevents broader market participation.
Regulatory Uncertainty: Without official exchange support, Pi remains a speculative asset with high risks.
Binances Refusal to List Pi: Despite strong community support, Binance previously declined to list Pi Coin, contributing to its price decline.

If other exchanges such as Upbit, Bithumb, Kraken, or Gemini decide to list PI, it could open the floodgates for institutional and retail investors alike, providing a much-needed price boost.

One of the biggest driving forces behind Pi Coins speculative price action is the possibility of exchange listings on major platforms like Binance and Coinbase. The Pi Network community has been actively advocating for its listing, believing that increased liquidity would significantly boost its price.

There are signs of strong buying interest despite the bearish trend. Crypto analyst recently highlighted that a single wallet acquired 3.65 million PI tokens across six transactions, demonstrating ongoing demand. If such buying trends continue, they could help stabilize the price and fuel a recovery.

In Future

Looking ahead, analysts hold divided opinions on Pi Networks trajectory. To reclaim its ATH of $3, several factors must align:

Successful exchange listings
Increased adoption within the Pi Network ecosystem
A shift in overall crypto market sentiment

For now, Pi traders remain watchful, waiting to see if the token can build momentum or succumb to further selling pressure. If key resistance levels break, Pi Network may be poised for a substantial rally in the coming months.

The post Price Prediction for Pi Coin as It Struggles at Key Resistance appeared first on Coindoo.

Text source: Coindoo

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