Pi Coin has witnessed a significant rise, increasing its value by over 5% in the past 24 hours and currently trading between $1.70 and $1.95. Market sentiment remains bullish, with hopes for a return to previous highs.
What Drives Pi Coin’s Resilience?
Despite the volatility typical of the cryptocurrency market, Pi Coin has showcased strong performance. While it remains connected to the movements of Bitcoin and other major digital currencies, it is also gaining traction on its own.
Pi Coin's Prospects on Major Exchanges
Currently positioned 11th in market capitalization according to CoinMarketCap, Pi Coin has reached this status without being listed on major exchanges like Binance or Coinbase. This absence raises questions about its potential trajectory should it gain such listings.
Key Insights from the Current Market Situation
Pi Coin’s nearest support level stands at $1.60. If the price maintains above $2, the next significant resistance level could be $3. Its RSI is below 50, indicating a need for more buying momentum to reinforce upward movement.
The Pi Network has garnered significant attention, with its app downloaded over 150 million times and boasting 65 million active users. Such a robust user base enhances the potential for Pi Coin to be utilized in everyday transactions and to support decentralized applications. Expectations are mounting that listings on larger platforms could potentially drive further price recovery.
