Is Pi Network’s PI Token Poised for a Comeback After Its Steep Drop?

Currently trading at $1.70, the PI token has plummeted over 40% from its all-time high of $2.98.

Key Factors Affecting PI’s Price:

Vietnam’s Legal Reminder: The country reiterated PI’s legal status but did not introduce new regulations.

Binance Listing Speculation: Rumors of a potential listing continue, though no official confirmation has surfaced.

Market Performance & Trends

Market Cap: $11.69 billion (1.93% decline)

24h Trading Volume: $1.15 billion (7.10% drop)

Fully Diluted Valuation (FDV): $170.9 billion

Volatility to Market Cap Ratio: 9.84%, signaling high price fluctuations

Earlier today, PI briefly dipped to $1.52 before stabilizing. However, selling pressure remains strong, keeping the token volatile.

Can PI Token Reverse Its Bearish Trend?

Technical indicators suggest mixed signals:

RSI at 43.28 (slightly below average), indicating weak momentum

Chaikin Money Flow (CMF) at -0.02, signaling limited buying interest

Key Resistance: $1.90 | Key Support: $1.60

A breakout above resistance could push PI back to $2.00+, but if selling pressure persists, further declines are possible.

Potential Recovery Outlook

Despite the bearish sentiment, some analysts remain optimistic. CoinCodex predicts a 234.84% surge in March, forecasting an average price of $3.37 and a potential high of $5.64—a significant rebound if market conditions align.

Crypto Market Highlights:

Meanwhile, Onyxcoin (XCN) surged 28%, signaling bullish momentum in other areas of the crypto space. Investors remain watchful for catalysts that could trigger PI’s next move.

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