Pi Network (PI) Price Prediction: Has the Floor Been Found, or Is Another Leg Down on the Horizon?

Pi Network (PI) has taken traders on a wild ride, skyrocketing past $137 before crashing back to earth.

output: Pi Network (PI) price has been on a wild ride since its launch, surging past $137 before crashing back to earth. On Monday, we discussed PI’s struggles post-listing, where heavy selling pressure wiped out gains and sent the token spiraling downward.

Now, trading at $1.92, there’s still no clear direction for PI in the market. With huge volatility still in play, the big question is: Has PI found a floor, or is another leg down on the horizon?

Technical Analysis: Key Support and Resistance Levels

As of August 14, 2023, PI is currently trading at

Key Levels to Watch

What’s Fueling the Pi Network Hype?

Pi Network, the cryptocurrency project with millions of engaged users, has taken the crypto world by storm. While its journey has been marked by price volatility and market speculation, several factors continue to fuel interest in the token.

Increased Exchange Listings & Market Visibility

Recently, PI's visibility expanded with its listing on CoinMarketCap, sparking discussion and analysis of the token. Despite not yet being officially listed on major centralized exchanges like Binance or Coinbase, rumors of future listings on Spot exchanges are circulating, potentially driving demand for the token.

Growing Community Support & Ecosystem Development

Millions of users are actively engaging in mining Pi coins and participating in community discussions on the Pi Network. This grassroots movement has kept the project in the spotlight, fueling market optimism despite the token’s struggles to maintain gains.

PI Future Price Potential

There’s no consensus yet on whether PI can reach $10 soon. Some crypto analysts believe that a major exchange listing could provide the necessary momentum to propel the token toward that level. However, considering the token’s performance so far and the current market trends, they see the possibility of PI reaching $10 this year as slim.

Can PI Break Out to New Highs?

Pi Network’s price trajectory will depend on market sentiment, upcoming exchange announcements, and broader crypto trends. A sustained break above $2.50 could pave the way toward $5.00, with a long-term push toward $10 requiring substantial institutional interest and trading volume. On the downside, failure to hold above $1.50 could expose PI to further declines toward $0.50.

Conclusion

While the short-term price action remains uncertain, key levels and market developments will determine whether PI can stage a strong comeback. Investors should closely monitor exchange-related announcements and technical trends for the next big move.