Pi Network has experienced a 28% price rebound, currently trading around $0.58-$0.66
About 1.5 million tokens will be unlocked through April 11, with an additional 160.74 million tokens over the next 30 days
Technical analysis shows key support at $0.5361 and resistance at $0.6133
Pi has entered a consolidation phase with price ranging between $0.60 and $0.66
Analysts suggest Pi could potentially reach $3 by June under favorable conditions
Pi Network’s cryptocurrency has captured significant attention in recent weeks as its price recovers amid ongoing developments and speculation about its future trajectory. The digital asset has rebounded by 28% recently, giving investors renewed optimism about its potential in the current market landscape.
Pi Network’s token is currently trading in the $0.58-$0.66 range after bouncing back from lower levels. This recovery comes despite a 37% drop in 24-hour trading volume to approximately $298.5 million, suggesting underlying strength in buyer interest.
Market analysts have noted that the current rally appears to be driven by relatively low Pi Coin unlocks and growing market confidence. According to PiScan data, about 1.5 million tokens will be unlocked through April 11, with an additional 160.74 million tokens expected over the next 30 days.
This upcoming token release schedule has created both challenges and opportunities for Pi’s price action. While the projected token unlocks valued at nearly $94 million over the next month raise supply concerns, the market seems to be pricing in these events.
Market Consolidation and Technical Indicators
Pi Network has entered a noticeable consolidation phase. Since April 16, the token has established a narrow trading range, facing resistance at $0.66 while finding support at $0.60.
Technical indicators provide further evidence of this market standoff. The Aroon indicator shows the Aroon Up Line at 0% while the Aroon Down Line has declined to 14.29%, suggesting neither buyers nor sellers are currently dominating the market.
The steady decline in Pi’s Average True Range (ATR) since early March confirms decreasing market volatility as the token settles into this consolidation pattern. At recent reports, this indicator stands at 0.07.
Pi’s technical chart reveals key support at around $0.5361 and resistance at about $0.6133. The token faced bearish pressure on April 6, hitting support before showing recovery signs when a golden cross appeared on the charts.
Market observers note that if Pi breaks below support at $0.60, it could fall to $0.50. Conversely, a successful breach above resistance at $0.66 could propel its price toward $1.
Some crypto analysts have made more bullish predictions, suggesting the token could potentially reach the $3 mark by June if favorable conditions persist. This target depends on several developments from the Pi Core Team, including rumors of a possible token burn.
Pi Network’s price movement appears closely linked to the upcoming token unlocks. While these events typically increase supply and put downward pressure on prices, the market’s reaction has been surprisingly resilient.
The cryptocurrency’s growth potential seems to hinge on upcoming releases and overall market sentiment. Pi Network’s market optimism appears connected to its growing adoption and potential announcements from the Core Team regarding token economics.
The full price discovery for Pi will likely only happen after it transitions completely to an open mainnet and secures listings on major exchanges. If this process occurs smoothly, analysts expect a rapid inflow of buying pressure that could drive prices higher.
Beyond technical factors, broader market conditions will play a role in Pi’s future performance. A bullish sentiment across the cryptocurrency market could benefit newer tokens like Pi through increased investor risk appetite.
However, the road ahead contains potential challenges. Delays in public mainnet rollout, regulatory hurdles, or lower-than-expected adoption could impact any anticipated rally. Without clear token utility and ecosystem development, sustaining price increases may prove difficult.
For now, Pi Network remains in a period of market indecision with traders awaiting catalysts that could trigger the next significant move. The cryptocurrency’s next directional breakout will likely determine its short-term price trajectory.
This articles is written by : Nermeen Nabil Khear Abdelmalak
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