In a notable development, Pi Coin has witnessed a remarkable increase of over 5% in its value over the past 24 hours, recovering from a recent dip that brought its price down from a peak of $3. Currently trading between $1.70 and $1.95, market sentiment is buoyant, with many believing the coin could revisit its previous heights.
What Drives Pi Coin’s Resilience?
Despite the volatile nature typical of the cryptocurrency market, Pi Coin has showcased strong performance. While it remains connected to the movements of Bitcoin and other significant digital currencies, it is also gaining traction on its own.
Is Pi Coin a Worthy Contender for Major Exchanges?
Currently positioned 11th in market capitalization according to CoinMarketCap, Pi Coin has achieved this noteworthy status without being listed on prominent exchanges like Binance or Coinbase. This absence raises questions about its potential trajectory should it gain such listings.
Several key insights emerge from the current market situation:
- Pi Coin’s nearest support level stands at $1.60, with the possibility of testing this if selling pressure increases.
- If it maintains above $2, the next significant resistance level could be $3.
- Its RSI is below 50, indicating a need for more buying momentum to reinforce upward movement.
The Pi Network has gained significant traction, with its app downloaded over 150 million times and boasting 65 million active users. Such a robust user base enhances the potential for Pi Coin to be utilized in everyday transactions and to support decentralized applications. Following its recent trading activity on centralized exchanges, expectations are mounting for listings on larger platforms, which could potentially drive further price recovery.
