Pi coin price outlook: Cryptocurrency investment trends expected in June

Updated information on Pi coin price

Pi coin is currently trading around 0.5423 USD, up 0.9% in the past 24 hours. After the Pi development team announced a 100-day update since the launch of the open network, the price of Pi has seen some recovery after a series of consecutive declines. However, this week, Pi has still dropped over 12%, and nearly 29% this month. Current technical indicators are in consensus on a bearish signal as the price remains within a symmetrical triangle, confined between 0.54 USD and 0.74 USD. A break above the resistance level of 0.74 USD and a successful retest could open up strong upward momentum for Pi coin.

Risks ahead: Token deflation and sell-off pressure

However, the risks still remain. The wallet balance on the exchange is steadily increasing, indicating that investors may be preparing to release their holdings into the market. At the same time, the amount of Tokens set to be released in June and July is expected to put significant pressure on the already stagnant price of Pi. This Token unlock event could trigger a strong sell-off, reducing the downward momentum of Pi coin.

June 28: A decisive moment

As Pi Day approaches, the community is hopeful for important updates, especially regarding GCV, the community project valuing 1 Pi at approximately 314.159 USD. If the development team officially announces the mainnet launch or mentions GCV, the price could break out. Conversely, a silence could trigger a mass sell-off mentality, undermining investor confidence and reducing interest.

Will Pi coin reach 10 USD or drop to 0.40 USD?

Analyst Mr. Spock believes that if there are clear updates before or on Pi Day, Pi coin could attract attention and aim for a price level of 5 to 10 USD. Some opinions predict that the exchange rate could fluctuate significantly based on market reactions. The market is expected to witness, in the coming period, if positive news appears, Pi coin may surpass the 0.74 USD level and go further.

Pi coin price prediction for the end of June

If it surpasses the 0.74 USD threshold, the price of Pi may aim for 0.85–0.90 USD. Conversely, if it cannot maintain the 0.60 USD level, the price may fall to 0.52 USD, especially before the Token unlock date on July 1. In July, Pi is expected to trade between 1.20–1.80 USD, although significant volatility may occur in the last week of the month. Predictions indicate that Pi coin could drop to 0.37–0.43 USD in the short term before entering a slow recovery phase in August.

Conclusion

The cryptocurrency investment community needs to closely monitor signals from the Pi development team and technical indicators. Positive information or major events on Pi Day could change the price trend. Conversely, the risk of a sell-off could lead to a significant price drop, especially in the context of unlock Tokens increasing selling pressure. Overall, the cryptocurrency market is still waiting for important turning points to determine the long-term trend of Pi coin in 2023.

Note: Predictions and analyses are for reference only; cryptocurrency investment always carries high risks and requires careful consideration before making decisions.

Source: https://tintucbitcoin.com/du-doan-gia-pi-coin-sau-28-6/

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