The crypto markets underwent a brief upswing followed by an announcement of a crypto strategic reserve involving top tokens like Bitcoin, Ethereum, XRP, Solana, & Cardano. Meanwhile, the markets dropped as President Trump confirmed the start of 25% tariffs on Canada & Mexico. While Bitcoin plunged below $84,000 and is struggling to regain the lost momentum, Pi Network is displaying decent strength. The PI price has been trying very hard to keep up the momentum since the early trading hours.
What’s next? Will Pi price reclaim $2 this month?
Soon after the launch, the PI price spiked high to mark highs close to $3 but failed to surpass the range. Currently, the token has surpassed Hedera and reached the 11th spot of the crypto rankings, which suggests it could be the next big thing in the markets. The price has sustained a notable bullish trend despite the ongoing market crash. Therefore, the price is now believed to reclaim the lost levels and close the quarterly trade on a bullish note.
As seen in the above chart, the PI price broke out from the falling wedge in the short term but has yet to validate the upswing. After experiencing massive volatility, the volatility has squeezed as the Bollinger Bands have contracted well. Besides, the stochastic RSI has reached the overbought zone, which suggests that a temporary pullback could be on the horizon. Meanwhile, the local support zone, between $1.6 and $1.62, could offer a strong base, which may trigger a strong rebound to the upper resistance around $1.92.
Regardless of the growing strength and potential to surpass the giants, the Pi Network is yet to get listed on Binance. In the times when the newly launched memecoins get listed within minutes, this delay could have a negative impact on the token, instigating a huge whale sell-off. Meanwhile, the PI price is believed to maintain a healthy ascending trend even if it fails to get a bigger platform like Binance.
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