Pi Coin, the native currency of Pi Network, has experienced volatility, showing a 3.83% decline. Trading volumes remain low, indicating weak buying interest and potential further losses.
Current Price Dynamics
The price of Pi Coin opened at $0.6915, briefly climbing to $0.6918 before declining. The latest data shows a 3.83% drop, reflecting increased bearish sentiment. The trading volume remains at 10.23K, signaling weak buying interest.
Technical Analysis: Potential Changes
Pi's Relative Strength Index (RSI) stands at 39.42, nearing oversold territory, with a moving average of 39.78. This suggests increased volatility and likelihood of further downside. Pi is forming a falling wedge pattern, testing key support at $0.687. A breakout above $0.71–$0.72 could trigger a short-term bullish reversal, with support levels at $0.75–$0.78.
The Future of Pi Network
Despite expanding its ecosystem, Pi faces several hurdles. Many traders demand greater transparency regarding its progress and strategic plans. Exchange listings and adoption remain crucial for price recovery. Additionally, the Know Your Customer (KYC) process is a concern; the project recently required users to submit email addresses for two-factor authentication, raising privacy concerns.
In the short term, Pi may trade below $0.60 unless there is bullish momentum. A breakout above $0.7300 is needed for recovery, while a drop below $0.7100 could drive prices lower. The transition from testnet to mainnet will be a critical moment for investors to watch for potential reversal signs.
