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Pi Coin continues its persistent downturn even as the wider cryptocurrency market sees remarkable gains, with Bitcoin achieving new peaks of $118,000 and Ethereum surpassing $3,000.
The token that once garnered millions of supporters is now valued at $0.465, perilously close to its historical low of $0.400.
Even the recent Pi2Day celebration was unable to provide any momentum for the faltering altcoin, which has experienced a significant 26.4% drop over the last fortnight.
The technical indicators suggest an increasingly pessimistic outlook for Pi Network. The cryptocurrency has formed a negative correlation of -0.27 with Bitcoin, indicating it tends to move in the opposite direction of the market leader.
Technical Outlook: Pi Network Remains Bearish – Yet a Breakout Could Change the Narrative
Pi Network is entrenched in a strong downtrend, trading within a descending channel that has characterized price movements since its peak following launch.
Every attempt at a rally has faltered at the upper limit of the channel, solidifying it as a significant resistance area.
Source: TradingView
The volume profile also indicates low engagement, with diminishing volume throughout the downtrend, implying that buyer confidence remains weak.
Nevertheless, the RSI has risen to 55.46 – a neutral yet improving signal that may suggest a shift in momentum is beginning.
While the current configuration still appears bearish, a confirmed breakout above the descending channel could initiate a sharp reversal.
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In such a case, PI could aim for significant resistance levels at $0.98, $1.38, and $1.67 – with the possibility of a sustained recovery if bullish momentum develops.
Best Wallet Provides Enhanced Value in Present Market Conditions
As Pi Coin grapples with diminishing momentum, Best Wallet is rapidly becoming a more appealing option for investors in search of utility and growth.
Its latest update introduced full Bitcoin support and multi-chain capabilities, positioning it as a strong competitor in the ongoing market rally.
The $BEST token offers reduced fees, presale access, airdrops, and staking rewards, while users can also earn by completing quests and engaging with GameFi.
Best Wallet ensures top-notch security, fiat on/off ramps, and upcoming features such as a crypto debit card and portfolio management tools.
A notable feature is “Upcoming Tokens,” which allows users to discover new crypto projects prior to their public release.
With genuine utility and a developing ecosystem, $BEST stands out as one of the most promising presales to monitor at this time.
For further information, you can visit the official Best Wallet website here.
The post Pi Coin Price Prediction: Crashing Toward All-Time Low – Is PI Going to $0? appeared first on Cryptonews.
