Pi Network (PI) Coin Price Prediction: Can Pi Coin Soar to New Heights?

With bullish predictions and Pi Network market dynamics in play, investors are keenly observing potential catalysts that could drive Pi crypto value upward.

Investors are closely following potential catalysts that could influence the price of Pi crypto, especially amid bullish predictions and the market dynamics of Pi Network.

A Bullish Outlook for Pi Coin Price

Celebrations for Pi Day have brought optimism to the Pi Network market. Analysts anticipate a potential breakout, with renowned crypto analyst Bitcoin Buddha forecasting that Pi Coin could escalate as high as $10 if listed on the Pi Network Binance exchange.

“The Pi community is among the most devoted in the crypto space. A Binance listing might propel the Pi Coin value to $5-$10,” Bitcoin Buddha noted.

The Pi Coin price chart displayed an inverted head and shoulders pattern, suggesting further bullish movement ahead. Source: Coinvo via X

Another analyst highlighted a Head and Shoulders pattern, which could see Pi Coin rally to $3.6, surpassing its current ATH of $2.98. This pattern signals a possible parabolic movement, further boosting investor confidence.

Milestones and Progress in Pi Network Mainnet

Since its launch in 2019, Pi Network has concentrated on fostering community-driven Pi mining and expanding its ecosystem. The recent activation of its mainnet enabled exchanges like Bitget, OKX, MEXC, and Gate.io to commence listing Pi Network Coin. However, despite a community vote where 86% favored Binance listing Pi Coin, it remains absent from the platform.

Pi Network now mandates 2FA confirmation for Pi wallet verification prior to migration. Source: SatomedOfficial via X

The project’s implementation of Know Your Customer (KYC) verification and Mainnet migration has been crucial in enhancing security and decentralization. Nevertheless, delays in deadlines, including the extension of the grace period for KYC and migration until March 14, have induced frustration among users.

Market Sentiment and Potential Risks for Pi Coin Value

While the Pi Day event had caused a 20% rise in the price of Pi Coin before the event, Pi Coin has been volatile and is currently trading at $1.57, a decrease of 9% in the last 24 hours. The bearish sentiment also prevails in the Futures market, where the funding rate indicates more short positions than long positions.

Pi Network Coin price must survive the $1.50 support and break the $1.75 resistance to open the door for further gains. Source: MyCryptoParadise on TradingView

Technical analysis indicators such as the Moving Average Convergence Divergence (MACD) indicate a potential bearish crossover can take place. Without surpassing the downtrend channel, Pi Coin has a chance of falling below the support level of $1.64 to levels such as $1.43 or lower. Alternatively, piercing the resistance of $1.98 can eliminate the bearish forecast and welcome greater breakthroughs.

The Road Ahead for Pi Network Coin

The sixth anniversary of Pi Network marks significant progress, but challenges remain. The anticipation of a Binance listing and the community’s unwavering support provide a foundation for potential growth. However, market dynamics and investor sentiment will ultimately determine whether Pi Coin can achieve a new ATH.

As the Pi Network Coin market watches closely, Pi Network’s next moves will be pivotal in shaping its future trajectory. For those interested in buying Pi Network Coin or tracking the Pi crypto price, staying updated with the latest Pi Network news is essential.