Pi coin price dropped by more than 10% on Friday, the day synonymous with its name-“Pi Day”. The coin traded at $1.48 at the time of writing, down by 50% from the record highs set in late February. The decline on such an important day on the coin’s calendar is a tough verdict on its performance and could raise the tempo on its decline in the coming days.
Pi Coin Price Sends Mixed Signals
However, despite its decline, Pi has been among the best-performing crypto coins amid a broader market decline. The coin is up by more than 1,600%, less than a month since its listing. On the other hand, the cryptocurrency market has seen its capitalisation decline by $700 billion year-to-date. This denotes a stronger investor inclination toward the Pi Network Coin.
A key stumbling block in Pi Network coin’s next big move is the delayed listing by Binance, the world’s largest centralised exchange. The Binance community voted overwhelmingly to support listing of Pi by the exchange last week, and the actualisation of that result could help the coin fine-tune its recent upward momentum.
Pi Coin’s 24-hour trading volume was down by 6.5% as of this writing, signaling declining selling pressure on investors following the price drop. A continuation of the same trend will provide support for Pi Coin price to find traction.
Pi Coin Price Prediction
The momentum on Pi Coin price signals that the downside will likely continue below the pivot mark at $1.60 . With the sellers in control, the coin will likely go downward and find the first support at $1.48. However, a stronger momentum will break below that level and test $1.45.
Conversely, the momentum will move to the upside if the price breaks above $1.64. That will likely see the first resistance come at $1.81. However, an extended control by the buyers will breach that level and invalidate the downside narrative. Also, that could clear the path to test $2.00.
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