Pi has gone up by nearly 5% in the past day and currently sits at $0.6683 as cryptocurrencies have rallied following some reassurances from President Trump and White House officials about their approach to tariffs and monetary policy matters.
However, the native asset of the Pi Network currently trades 77.6% below its all-time high of $2.98 as it started to plummet right after its public mainnet was launched.
The network’s decision to require its users to go through Know Your Customers (KYC) protocols to claim PI tokens has been one of the reasons for this collapse as it goes against one of the most relevant core principles of blockchain technology.
Meanwhile, top crypto exchanges like Binance and Coinbase have refused to list PI as they were required to go through Know Your Business (KYB) proceedings as well. This limited PI’s liquidity and deteriorated the token’s near-term prospects.
Even though PI has recovered recently with weekly gains of 8.1%, technical indicators show that the downtrend may resume as positive momentum seems to be losing traction.
Momentum Readings Show that PI Could be Due For a Pullback
The hourly price action shows that Pi broke above a symmetrical triangle recently with strong volumes and rapidly surged to a key area of resistance at around $0.67.
The price has now climbed above its 21-day exponential moving average (EMA) but momentum indicators show that the rally may have entered a phase of exhaustion.
The Relative Strength Index (RSI) recently touched overbought levels and it is now on a downtrend. Moreover, the oscillator made a bearish cross below the signal line, which is typically interpreted as a sell signal.
Meanwhile, the MACD’s histogram shows steadily decreasing positive momentum readings as the price got to this key resistance area.
Traders should approach this rally cautiously as technical indicators seem to be anticipating a pullback. That said, the $0.67 has now turned into support alongside the 21-day EMA.
As PI continues to struggle with reputation issues and weak momentum, Bitcoin has surged by more than 11% in the past week.
As PI grapples with reputation challenges and sluggish momentum, Bitcoin has surged over 11% in the past week — reigniting bullish sentiment.
Riding that wave, a new presale project called BTC Bull Token is gaining traction, offering a fun and rewarding way to earn passive income as Bitcoin climbs to new highs.
BTC Bull Token (BTCBULL) Raises $5M – Earn Real Bitcoin Every Time BTC Pumps
BTC Bull Token (BTCBULL) is a meme coin with a purpose. Its innovative reward mechanism offers a fun way to earn extra income as the price of Bitcoin makes new all-time highs.
The reward system behind BTC Bull Token (BTCBULL) is straightforward and designed to grow with Bitcoin’s price.
Starting from a baseline of $100,000, BTCBULL holders are rewarded every time Bitcoin gains another $25,000.
At $125,000, a portion of BTCBULL’s circulating supply will be burned — creating scarcity and boosting token value.
When Bitcoin hits $150,000, token holders will receive direct BTC airdrops, making BTCBULL both a fun meme coin and a strategic play on Bitcoin’s long-term rise.
To start earning rewards, simply visit the official BTC Bull Token website and join the presale.
Connect your wallet — such as Best Wallet — and choose your preferred payment method.
You can swap USDT or ETH for $BTCBULL, or use a bank card to complete your purchase with ease.
The post Is Pi Coin Headed for a Total Collapse? Price Could Drop to $0.40 If This Happens appeared first on Cryptonews.
