In the cryptocurrency market, Pi Network has once again captured attention following the celebration of Pi2Day, where the team rolled out several new features. However, the price of PI Coin has dropped by 3% over the past 24 hours.
New Features Introduced on Pi2Day
As part of the Pi2Day celebration, the Pi Core Team introduced two major features:
1. **Pi App Studio** – An AI-powered platform that allows users to build Pi apps without writing a single line of code, aimed at solving real-world problems through the combination of blockchain and AI. 2. **Ecosystem Directory Staking** – A new utility layer allowing users and businesses to boost their app rankings through staking PI on the Mainnet.
Additionally, several other important updates were announced:
- Node version update - Third-party onramp aggregator integration - Extension of the .pi Domains Auction - Improved Mainnet Migration processes
Future of PI Coin and Current Trends
While the long-term fundamentals are strengthening, the short-term trends suggest caution. On the 1-hour chart, PI is currently trading in a falling wedge pattern, associated with bullish reversals. The price is holding above the support trendline near $0.52, which could act as a potential bounce zone.
Chart Analysis and Possible Scenarios
If PI maintains this support, a move back toward the upper resistance of the wedge may be expected, currently around the $0.57–$0.60 range. However, if the price breaks below the lower wedge boundary, it could invalidate the bullish setup and trigger a further decline toward $0.49 and $0.47.
Thus, despite the new features launched during Pi2Day, the price of PI Coin is reflecting a short-term decline. The future of the token will depend on support at current levels, which will be crucial for its potential growth.
