Key Insights:
- Pi crypto is currently standing at a key support level of $0.515, which appears to be a make-or-break level for the asset.
- A crypto user noted, “My Pi KYC has finally been fully approved after a long period of being stuck,” which is seen as a positive sign for users.
For the fourth consecutive day, Pi Network’s native token, Pi crypto, has been trading sideways near a key support level of $0.515. The ongoing bearish market sentiment, along with ongoing issues within the Pi Network ecosystem, appears to be the main reason behind this stagnant price action and downward pressure.
Pi Crypto Current Price Momentum
At press time, Pi crypto was trading near $0.532 and had recorded a price drop of over 4.15% in the past 24 hours. During the same period, investor and trader participation skyrocketed, resulting in a 12% surge in trading volume.
This rising trading volume during a price dip indicates strong downward pressure, with sellers currently dominating the market. Investors and experts see this as a strong bearish signal, which has the potential to accelerate the downward selling pressure.
Experts’ Bullish Outlook
Amid the rising interest in Pi crypto, experts and analysts have shown strong enthusiasm for the token, as several posts have surfaced on X (formerly Twitter).
In recent days, as Pi crypto appears to be consolidating or continuing its downtrend, a crypto expert made a bold prediction. In a post on X, the expert noted,
“The current dip is a blessing in disguise. While some are frustrated, I’m feeling super bullish because I can see that the heavy resistance levels at $0.6 – $0.8 are now diluted by the dip. The rebound is going to be epic, coupled with mega Pi2Day revelations on the way for Pi.”
In addition to this, another expert highlighted Pi Network’s prolonged and stuck KYC process. In a post on X, the expert noted,
“My Pi KYC has finally been fully approved after a long period of being stuck on tentative status.”
This KYC approval after such a prolonged period is seen as a positive sign for users who have been waiting for it for a long time.
Pi Crypto Price Action and Key Technical Levels
According to expert technical analysis, Pi crypto is currently hovering near a key support level of $0.512. For over four consecutive days, the asset has been moving around this level, which appears to be a make-or-break point.
Since the launch of the token, whenever Pi crypto has reached this level, it has consistently witnessed upward momentum.
However, below this key support level, there doesn’t appear to be any major support on the daily chart, which suggests the potential for a significant crash if the price fails to hold this level.
Pi Crypto Price Prediction
Based on recent price action and historical patterns, if the Pi crypto price holds this level, there is a strong possibility of a price reversal in the coming days, especially if market sentiment shifts.
On the other hand, Pi crypto could crash or experience a price drop of up to 22% if the asset fails to sustain above the $0.512 level.
Technical Analysis: EMA and RSI
At press time, Pi crypto price is trading below the 50-day Exponential Moving Average (EMA) on a daily time frame, indicating that the asset is currently in a short-term bearish phase. This further hints that market participants remain cautious, and unless the price breaks above the 50-day EMA with strong volume support, a sustained recovery remains unlikely.
Meanwhile, Pi’s Relative Strength Index (RSI) stands at 31.52, indicating that the asset is approaching the oversold territory, which may signal a potential price rebound if buying interest begins to emerge at current support levels.
