Key Insights:
- After a sudden 40% price surge followed by a 20% drop, Pi crypto is now trading near key support at $0.515 and resistance at $0.66.
- Despite recent price drops and reduced trading volume, community and expert opinions remain mixed.
Over the past few hours, Pi crypto value has witnessed massive fluctuations, becoming a focal point for crypto enthusiasts. The daily chart reveals that following the ceasefire announcement between Israel and Iran, the overall market experienced upward momentum.
Volatility in Pi Crypto Value
Amid this, Pi crypto saw a 40% surge in value, which has since faded as the price dropped nearly 20% in the past 24 hours.
This notable fluctuation in the asset’s price appears to be garnering significant attention from crypto enthusiasts and Pi coin holders. Additionally, it raises the question of whether the asset will continue its downward momentum or if this is just a normal correction following the massive 40% rally.
At press time, Pi crypto value stands at $0.565 and has recorded a 10% price drop in the past 24 hours. This notable decline has reduced investor and trader participation, significantly impacting market sentiment and resulting in a 35% drop in trading volume.
This drop in trading volume aligns with the price decline, suggesting that the ongoing downward momentum is weak and the price could see an upward move or reversal if sentiment shifts or buying pressure increases.
Expert Mixed Sentiment for Pi Coin
Amid the ongoing price fluctuations, several posts have surfaced on X (formerly Twitter), with some expressing an optimistic view, while others still see the drop as a cause for concern.
Recently, a crypto expert shared a post on X, stating, “From $0.64 to $0.58 in just 2 hours. I just hope this is the last dump by the market makers before they pump PI in the next few days. But if there’s no good news on the 28th, we’re f*cked.”
Given the current market sentiment, another expert shared a post on X, stating that with the recent dip, the next explosion is being prepared for Pi crypto, and it still holds the potential for a massive surge.
Meanwhile, some voices in the community emphasize long-term growth, saying, “It’s not crashing, it’s expanding. Behind the scenes, the network is growing, the ecosystem is evolving, and Pi is doing its own thing — totally different from the usual crypto copycats.”
They also noted that this isn’t just some random market joke; Pi is simply leveling up.
According to expert technical analysis, following the notable price decline in recent days, Pi crypto appears to be standing at a make-or-break level.
This dip occurred after the asset hit a strong resistance at $0.66 and the 50-day Exponential Moving Average (EMA) on the daily timeframe.
Pi Crypto Value: Will Price Reclaim $1.25?
Based on recent price action, if the current market sentiment remains unchanged and the price continues to decline, falling below the key support level of $0.515, there is a strong possibility that the asset could experience a significant drop, potentially reaching the $0.40 level in the near future.
On the other hand, if the sentiment shifts and the price of Pi crypto soars again, breaking out of the key resistance level at $0.66, there is a strong possibility that the asset could reverse its prolonged bearish trend and potentially reach the $1.25 level in the future.
At press time, Pi crypto value is trading below the 50-day Exponential Moving Average (EMA), indicating a prevailing bearish sentiment and suggesting that the asset may continue to face downward pressure unless a strong reversal occurs.
Whereas, the Relative Strength Index (RSI) stands at 44.89, indicating that the asset is currently in a neutral zone but edging closer to the oversold territory, which could hint at a potential buying opportunity if selling pressure persists.
