Pi Coin has shown weak performance following its peak values. However, technical analysis indicates a possible recovery in the upcoming weeks.
Current Situation with Pi Coin Price
Currently, Pi Coin is trading at $0.385, which is significantly lower than its all-time high of $3 reached in February. Since the peak, the coin has fallen over 85%, and decreasing trading volumes indicate a waning initial hype.
Wyckoff Theory and Its Impact
Pi Coin is in the accumulation phase according to Wyckoff Theory, which states that assets go through four stages: accumulation, markup, distribution, and markdown. Low trading volume and volatility confirm the accumulation phase. The coin is likely to enter the markup phase, leading to strong bullish movements.
Future Catalysts for Pi Coin
Potential catalysts for Pi Coin's rise include listings on major exchanges like Upbit or Binance, as well as significant partnerships or token burn announcements.
The analysis indicates that Pi Coin may be on the brink of rising to $1 if current trends and external catalysts support this process.
