The post Pi Coin Price Prediction: Breakout or Breakdown? appeared first on Coinpedia Fintech News
Pi Network is currently trading at $0.6512 and is struggling to break above the $0.66 level. After bouncing back from a low near $0.62, its price has been in a tight range for the past few days. Analysts say this “coiling” pattern could lead to a big move in the short term, either a breakout or breakdown, soon. A not-so-fresh concern is the token unlock, with 290 million tokens expected to unlock over the next 30 days, as per Pi Scan. Around 9.9 million tokens are unlocking today.
Upside Possible?
Pi coin is forming a strong “triple-bottom” pattern, which might hint at a possible upward move. The rumors about the upcoming Phase 2 integration could boost interest and activity. If all of the factors align, Pi Coin could hit $1 soon.
Analyst Kim Wong recently shared that Pi has faced many doubts and criticisms over its 6 years, but the patience has paid off as its mainnet launched and Pi Coin trades between $0.40 and $3 on major exchanges. He believes Pi’s price could rise as it hits 100 apps, gets listed on top exchanges, gains merchant adoption, and users complete KYC and migrate to wallets.
Pi Coin Stuck Between Key Levels
Pi Coin is stuck between $0.62 support and $0.66 resistance. If it breaks above $0.66, it could rise toward $0.69, but falling below $0.61 might push it down to $0.57. It must need to break the $0.80 level to bring back the bullish momentum. The MACD is flat but slightly positive, showing uncertainty.
CoinCodex expects Pi coin to go slightly below its current trading level in the short term. Its 1-month prediction is around $0.49, while in 3 months, it expects Pi near the $0.50 level. These numbers show that Pi might stay just under 0.50 for a while.
User Frustration Grows Over Migration and KYC Delays
Users are frustrated over migration problems, with many stuck in KYC verification. Fake announcements about a second migration have further added to the confusion, while the Pi Core Team has not confirmed anything official yet.
Pi Network’s fundamentals are also getting weak as the number of Pi holders stays stuck around 14,952, with fewer new users joining. This shows that early supporters are losing interest, which is hurting confidence in Pi’s short-term future.