The crypto market experienced a brief upswing before a sharp decline following major geopolitical and economic developments. The announcement of a strategic crypto reserve featuring Bitcoin (BTC), Ethereum (ETH), XRP, Solana (SOL), and Cardano (ADA) initially spurred optimism. However, market sentiment quickly shifted downward after President Donald Trump confirmed the imposition of 25% tariffs on Canada and Mexico. Bitcoin, which had previously surged above $84,000, plunged below this key level and is now struggling to recover lost momentum.
Pi Network Defies Market Trends
While major cryptocurrencies wavered, Pi Network (PI) exhibited notable resilience. Since the early trading hours, PI has been holding firm, demonstrating a bullish trajectory despite widespread market turbulence.
Upon its launch, PI spiked to nearly $3 but failed to sustain that level. However, the token has since outperformed Hedera (HBAR), securing the 11th spot in crypto rankings. This milestone suggests PI could be a rising contender in the digital asset space. Despite the broader market downturn, Pi Network continues to maintain an upward trend, leading analysts to speculate that it may reclaim its lost levels and end the quarter on a bullish note.
Technical Indicators Suggest Potential Growth
A closer look at PI’s price action shows that it recently broke out of a falling wedge pattern in the short term but has yet to confirm a sustained upswing. Bollinger Bands indicate reduced volatility, with a tight squeeze signaling a potential breakout. Meanwhile, the stochastic RSI has entered the overbought zone, hinting at a possible short-term pullback. However, PI’s local support zone between $1.60 and $1.62 could serve as a strong foundation for a rebound toward the $1.92 resistance level.
Binance Listing Remains Uncertain
Despite its growing strength, Pi Network has yet to secure a listing on Binance, a crucial milestone that could further solidify its market presence. In contrast, newly launched memecoins frequently gain listings within minutes. The delay in a Binance listing could potentially lead to whale sell-offs, impacting price stability. However, even in the absence of a major exchange listing, Pi Network’s ascending trend suggests continued growth in the coming months.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
Also Read: Pi Network Price Plunge: Can PI Coin Rebound After 40% Drop?
I’m a crypto enthusiast with a background in finance. I’m fascinated by the potential of crypto to disrupt traditional financial systems. I’m always on the lookout for new and innovative projects in the space. I believe that crypto has the potential to create a more equitable and inclusive financial system.
