The Pi Coins Experienced Considerable Volatility, Struggling to Stabilize Despite Broader Market Gains

Following its February peak near $2.99, the token experienced a steep fall exceeding seventy percent, now valued near $0.83.

The Pi Coins (PI) experienced significant volatility in recent times, struggling to stabilize despite broader cryptocurrency market gains. Following its February peak near $2.99, the token underwent a steep fall exceeding seventy percent, now valued at approximately $0.83. This substantial price decrease has raised concerns among holders regarding its potential for recovery in the upcoming months.

As the dust settles on an eventful February, the cryptocurrency market is slowly waking up from its slumber. While Bitcoin (BTC) and Ethereum (ETH) continue to march towards new highs, other tokens are struggling to keep up. Among them is Pi Coin (PI), which has seen its price collapse drastically.

After reaching a peak of $2.99 in February, the Pi token experienced a steep decline of over 70 percent, falling below the $0.83 mark. This sharp decrease in price has sparked worries among holders, who are questioning whether the token can recover in the months to come.

After hitting a high of $2.99 in February, Pi's price has fallen below the $0.83 mark. This follows a 70 percent decline from the peak. As of Monday morning, it is trading at $0.80, according to data from OKX.

At the same time, Pi's market capitalization has also seen a drastic reduction. While it was previously estimated at around $20 billion, it has since dropped to $5.35 billion. This sharp decrease in capitalization indicates a decline in trader enthusiasm.

Moreover, Pi's absence from major trading platforms remains a key obstacle preventing broader user acceptance. While it is available on smaller exchanges like OKX, Gate.io, and Bitget, its unavailability on platforms like Binance and Coinbase limits its reach.

However, some analysts have observed technical formations that suggest a possible turnaround for Pi. If the market conditions become favorable, we might see the token recovering some of its lost value.

Why Did Pi Coin Price Collapse?

One primary factor contributing to the drop in Pi's value is its unavailability on major digital currency exchanges. While crypto traders can access and trade Bitcoin, Ethereum, and other popular tokens on platforms like Binance and Coinbase, Pi is not listed on these platforms.

Instead, Pi is available on smaller exchanges like OKX, Gate.io, and Bitget. This limited availability has significantly affected the overall demand for the token. A future listing on major exchanges might help renew interest in Pi and consequently boost its price.

Another factor that is expected to exert significant pressure on the token's price is the upcoming token unlocks. According to the latest Pi news, over the next twelve months, these events will introduce more than 1.6 billion tokens into the available supply.

This anticipated supply expansion has triggered panic selling among some investors, which has further lowered the token's value. Without clear indications of growing demand, this greater token availability could sustain negative pressure on Pi Network's market valuation.

Technical Indicators Suggest A Possible Rebound

Despite the significant price drop, technical analysis indicates that the Pi Coin price might be poised for recovery. As we observed in the previous analysis, Pi recently broke out from a falling wedge pattern, a formation that technical analysts keep an eye on.

This pattern, visible on the chart above, is often a signal of potential upward price movements in the near future. If Pi manages to hold its current support area, the next major resistance level is around $1.22, potentially advancing toward $1.50 if sufficient positive momentum builds.

Other metrics, such as the Relative Strength Index (RSI), suggest that the Pi Network is currently oversold. This market state is usually an indication of a buying opportunity, prompting traders to search for undervalued assets for accumulation.

Moreover, on-chain data reveals that some large-scale investors have been accumulating Pi recently, apparently anticipating a future increase in the asset's value.

This activity, despite the recent price decline, might signal optimism among institutional investors regarding Pi's long-term potential.

Can Pi Coin Surge To $4 By May?

Expert opinions are divided regarding the immediate future performance of the PI token. Some forecasts suggest that the Pi Network might experience a substantial surge, potentially multiplying in value by 400 percent in the short term.

This optimistic scenario could propel the token towards a new peak around $4.11, possibly by early May. Such high price predictions are derived from analyzing past price behavior alongside the potential growth within the Pi ecosystem.

However, reaching this price goal depends on aligning multiple crucial elements. A key factor would be gaining a presence on major exchanges like Binance or Coinbase. This step is essential for improving trader sentiment and increasing available liquidity.

Furthermore, the continuation of positive movement from Bitcoin and other leading digital currencies could lift the general altcoin sector. This rising tide might include the PI token, thus attracting more investor attention and fresh capital inflows.

As the dust settles on