Pi Coin has slipped below the important level of $0.60, down over 3% in the past 24 hours. Over the 30-day timeframe, the token has recorded a decrease of -15%, making it one of the few major cryptocurrencies trading in the red this month.
While this downward trend has raised concerns among holders, some traders are beginning to wonder if this drop is actually a strategic buying opportunity. Since mid-April, Pi Coin has been trading sideways in a narrow range from $0.59 to $0.67, and with the current price testing the lower boundary at $0.58, the market may face further downside risk if it breaks below this support level.
The big question currently on the community's mind: can Pi Coin rise back to $3?
Despite recent price pressures, there are still a few positive developments stirring excitement among Pi supporters:
BitMart has officially resumed trading Pi Coin, providing much-needed liquidity to the market.
Banxa, a payment platform for fiat-to-crypto transactions, is reportedly generating thousands of new accounts, indicating growing interest in Pi.
HTX (formerly Huobi) is hinting at Pi Coin activity on its platform, implying potential support in the future.
And perhaps most notably, Pi Network founder Dr. Nicolas Kokkalis will be the keynote speaker at the Consensus Summit in Toronto in May 2025 — a significant event for the global cryptocurrency industry.
According to Dr. Altcoin, an influencer in the cryptocurrency space, these updates could be significant for Pi's price outlook: bullish momentum may be forming.
Currently, all attention is focused on whether Pi Coin can hold the support level of $0.58 — or whether these positive signals can spark the next price rally.