Pi Network Price Prediction: Pi Coin Consolidates Below $0.86 as $3 Surge Speculation Grows

Despite facing a significant decline in recent weeks, the Pi community remains hopeful about a potential recovery, with some speculating a surge back to the $3 all-time high (ATH).

The price of Pi Coin has dropped nearly 50% in the past two weeks, leading to increased volatility in the Pi Network market. Analysts suggest that the token is currently in a consolidation phase, with technical indicators showing mixed signals regarding its next move.

The recent Pi Network price action suggests a possible bullish reversal. The hourly chart indicates that Pi Coin has broken out from a descending parallel channel, a pattern that often precedes an upward move. However, Pi Crypto is now testing support at the upper trendline. Should this support level fail, the price could continue its bearish run.

Pi Network Coin price is expected to rebound from the $0.63 support and plot a bullish breakout above $0.86. Source: TradingView

Indicators such as the Relative Strength Index (RSI) are pointing to a recovery. The RSI has been making higher lows, resting at 52 currently, which indicates that there are some traders buying the dip. Additionally, the Awesome Oscillator (AO) is showing green bars, representing bullish divergence. These technical signs are indicating that if the momentum of buying increases, Pi Network Coin price could make another attempt at breaking $1.

One of the key drivers of Pi Network price speculation is the potential for major exchange listings. The Pi Network community is actively pushing for Binance and Coinbase to list the token. If Binance were to list Pi Coin, it could significantly boost liquidity and trading volume, leading to a price surge.

Pi Coin is stable with strong support between $0.82 and $0.85 as holders await positive updates from the Pi Core Team. Source: MonkeyPuppet via X

Dr. Altcoin, a prominent Pi Coin advocate, recently noted that large purchases have been occurring despite the market downturn. “One account alone bought 3.65 million Pi Coins across six transactions,” he stated. If similar buying activity continues, it could pave the way for a stronger rebound.

While optimism surrounds Pi Network trading, several factors could hinder its growth. The lack of a fully open mainnet is also a major issue, limiting liquidity and hindering free exchange of Pi Coin between traders. In contrast to regular cryptocurrencies, which are founded in an open-ended environment, Pi is semi-closed, compromising decentralization and transparency.

Pi Network price chart is potentially forming a bullish “cup and handle” pattern, which could take weeks to fully develop before a possible breakout. Source: SL-Trades on TradingView

Additionally, Binance’s refusal to list Pi Coin earlier this year supported its steep decline. Despite massive support from the community through a user poll, Binance has yet to give the listing, which has angered Pi Coin holders. Other platforms, including South Korea’s Upbit and Bithumb and the U.S.’s Kraken and Gemini, could be able to spur demand if they list the token within the next few months.

Looking ahead, analysts have mixed opinions on Pi Network price movements. For Pi Coin to return to its ATH of $3, several factors must align. Exchange listings, adoption rates, and positive market sentiment will all be accountable for defining its trajectory. While technical trends suggest the possibility of a short-term rebound, long-term sustainability is reliant on the progress of the Pi Network ecosystem.

Pi Network Coin could retest $3 if the price breaks through the $1.51 resistance. Source: Trader Edge via X

There is also growing speculation that Pi Coin could follow the path of major altcoins like XRP, Cardano, and Solana in securing an Exchange-Traded Fund (ETF). If such an ETF were approved, it could provide institutional investors with exposure to Pi cryptocurrency value, leading to increased demand and price appreciation.

For now, Market traders and investors will be watching to see if Pi Coin can continue its momentum or if it is going to get driven lower on selling pressure.