Pi Coin has significantly dropped in price after its successful exchange launch, but current trends may signal a potential asset recovery.
Key Support Levels for Pi Network
In recent months, the price of Pi Network has tested a key support level around $0.4 several times. It first bounced from this level in April, then again in June, and the same situation is happening in July.
Trendline and Possible Breakout
A long-term descending trendline has been preventing price rallies historically. However, currently, the price is being squeezed into a tighter range, sitting right below that trendline. A breakout could significantly change the market dynamic.
What’s Next for Pi Coin?
While Pi Coin's price is still more than 80% below its peak, the current support levels and chart structure are intriguing. A clear breakout above the trendline could pave the way for upward movement, with support at $0.4 likely to hold in the coming weeks.
Monitoring the price dynamics of Pi Coin is crucial, especially in light of current support levels and potential breakout opportunities.
