The cryptocurrency community is always keeping an eye on Pi Network. Recent rumors are about the possibility of Pi Coin being listed on HTX, which could trigger a significant price surge. Public discussions suggest that this token could rise to $5 while rekindling the interest of investors who previously debated its value. This analysis will explore the basis for market speculation related to Pi Network along with forecasts of price volatility on the platform.
HTX listing rumors boost optimism
Recent market fluctuations in Pi Network, along with rumors of HTX possibly listing the token, have raised expectations that the price will experience significant upward movements. HTX shows daily trading volume exceeding $1.7 billion and is one of the upcoming cryptocurrency exchanges that will add Pi Coin to its offerings.
The listing is likely to cause a price increase similar to previous token listings on various platforms. HTX has teased the Pi Network community through posts containing the Pi Network logo as a sign that they are preparing to launch the token.
The HTX listing could have a significant impact on the market, encouraging other exchanges to list Pi Coin, including major platforms like Binance and Coinbase. As Pi Coin receives additional platform listings, it will create more room for retail players to participate and boost trading volume. Given the current market situation, Pi Coin has strong potential for a sharp increase to reclaim the $5 level.
Can Pi Coin Bulls trigger a buyback campaign towards $0.76?
The current value of Pi is $0.62, while the market has seen a price decline of 2.68% over the past 24 hours. The recent drop in value has not weakened investors' expectations. The trading volume observed on CoinMarketCap has increased by 15.45%, resulting in significant trading activity worth $6 million. The increase in trading volume demonstrates that currency speculators continue to buy Pi Coin based on their predictions of the upcoming listing.
Technical outlook, including the Relative Strength Index, indicates oversold conditions. Its position below the 50-day moving average at 32 leans towards bearish, making the market pessimistic. However, with Pi Coin undervalued, the buying side could trigger a buyback strategy targeting the 45 mark. Closing above the 50-day moving average would invalidate the pessimistic sentiment, allowing buyers to take the lead.
In such a case, buyers could reverse the immediate resistance coinciding with the 50-day MA at $0.4 into support. Closing above this level would trigger a short-term bullish rally, potentially reclaiming the $0.66 mark. A breakthrough at this level would drive Pi Network's price up to $0.76.
What will the price of Pi Coin be next?
Recent developments show promising signs of Pi Coin's future move towards the goal of reaching a value of $5. As rumors turn into reality, HTX's potential listing position could generate significant price gains for Pi Coin. The price increase of Pi Coin depends on several conditions, such as the cryptocurrency market trend, robust development of the Pi Network ecosystem, and the excitement of traders inspired by new exchange listings.
The critical phase for Pi Network is becoming clearer due to market volatility. Recent reports indicate HTX's potential interest in listing Pi Coin could spark the flame that investors are waiting for to see price growth. Success in the market could position Pi Coin to become visible to investors looking to benefit from its expansion activities.