Pi Network (PI) remains stable at around $0.46 despite a 20% rebound in altcoins this July. This situation causes both frustration among some investors and intrigue among analysts seeing potential in the current consolidation phase.
Pi Network's Trading Stability
Despite the overall positive trend in altcoins, Pi Network shows little change in its price, trading around $0.46. The market situation is overall optimistic; however, Pi has yet to participate in this upward trend.
Reasons for Selling Pressure on Pi Coin
One of the main reasons why Pi Coin's price remains under pressure is the growing number of tokens held on centralized exchanges, which creates potential selling pressure. Pi reserves have increased from 370 million to over 384 million tokens in a week, which may suppress price growth even in a favorable market environment.
Market Outlook and Analysis
Analysts note that the $0.40-$0.50 range is seen as an accumulation zone where investors can confidently build their positions. If the current consolidation continues, a price increase to $0.49 or even $1 is possible. However, investors should closely monitor exchange reserves and market sentiment.
Pi Network is at a critical support level around $0.4452. A drop could lead to lower prices, but accumulation may suggest an upward movement. Investors must remain vigilant to market changes.
