Pi Network Price Eyes $5 Despite $0.60 Retest After Key Support Break
Pi Network’s price has turned bearish lately, dropping to $0.6228 after breaking below the multi-week ascending triangle and the 50 EMA...
Quick overview
- Pi Network's price has recently dropped to $0.6228, indicating a bearish trend after breaking below key support levels.
- Despite the current weakness, there is strong bullish sentiment due to rumors of an upcoming listing on HTX Exchange, which could significantly impact liquidity and visibility.
- Key levels to watch include immediate support at $0.6175 and deeper support at $0.6000, with resistance to reclaim at $0.6400.
- Technical indicators suggest a potential reversal could occur if Pi Coin reclaims $0.6400, with targets set at $0.6826 and $0.7200.
Pi Network’s price has turned bearish lately, dropping to $0.6228 after breaking below the multi-week ascending triangle and the 50 EMA ($0.6406) on the 2-hour chart. This technical breakdown puts short-term momentum in favor of sellers and increases the risk of a retest to the $0.6000 support zone.
Despite this weakness, bullish sentiment around Pi Coin remains strong, mainly due to the ongoing rumors of HTX Exchange listing. If confirmed, this could trigger a reversal and bring back the broader $5 target many are waiting for.
Key Levels to Watch:
Immediate support: $0.6175
Deeper support: $0.6000
Resistance to reclaim: $0.6400
Until Pi reclaims $0.6400, be cautious and look for a consolidation pattern.
HTX Exchange Listing Buzz: Why It Matters for Pi Network
HTX Exchange—one of the biggest platforms with a daily trading volume of $1.7 billion—is rumored to list Pi Coin soon. Teasers with the Pi logo have appeared on HTX’s social media, fueling the hype. If listed, it could bring in more liquidity, visibility and retail participation for Pi Coin.
Analysts say major exchange listings often act as catalysts for rapid price moves. If Pi is listed on HTX, it could pave the way for listings on bigger exchanges like Binance and Coinbase—a crucial step to reach the $5 target.
Supporting Factors for Growth:
Exchange listing boosts volume and demand
Pi’s large community can ignite buying pressure
Speculation around new listings often triggers quick gains
Technical Setup: Where Pi Coin Could Go Next
From a technical standpoint, Pi Coin is at a crossroads. With the breakdown below $0.6406, the immediate risk is a retest of $0.6175 or even $0.6000 if sellers are in control. The MACD has gone bearish, so downward pressure is present.
But the RSI is near oversold, so a reversal could be brewing. If Pi Coin reclaims $0.6400 with volume, the first target is $0.6826, then $0.7200 and beyond.
Trade Setup:
Sell: Below $0.6175
Targets: $0.6000 and $0.5905
Stop: Above $0.6450
Buy: Above $0.6400
Be cautious and wait for clear signs of trend change.
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