Can It Reclaim the $1.95 Resistance?

The launch of Pi Network’s mainnet created a surge of excitement in the cryptocurrency market. On February 20, the day of the launch, Pi’s price skyrocketed by 765.87%. This rally continued, with prices soaring 2,692.85% between February 20 and 26. However, the trend reversed in late February. Since February 27, Pi has dropped 38.47%, though it saw a 3.5% rise in the last 24 hours.

Now, the key question is: Can Pi reclaim the critical $1.95 resistance level? Let’s break it down.

Why Is Pi Struggling to Maintain Momentum?

Several factors are weighing on Pi’s price:

KYC Delays Affect Market Confidence
Pi Network postponed its Know Your Customer (KYC) grace period for the third time, frustrating users and investors.

Backlash Over Binance Listing
The possibility of Pi being listed on Binance has sparked controversy, impacting market sentiment.

Global Economic Pressures
Weakness in the broader crypto market, partly due to the Trump administration’s new tariffs on Canada, Mexico, and China, has also slowed Pi’s momentum.

Technical Outlook: Will Pi Regain Strength?

After reaching its all-time high, Pi dropped below a descending trendline. On March 2, it hit a low of $1.51 before making a strong rebound. Now, Pi is trading at $1.7356, with a crucial resistance level at $1.95.

The RSI reading, observed on the four-hour chart of Pi Network, is at 41.13. This figure indicates that there is a high chance for growth in the PI market. The MACD reading, on the same chart, is -0.0810. There is a high possibility that the signal will move above zero. 

Both these indicators suggest that the market is likely to experience strong bullish momentum soon. 

PI completed a five-wave increase before correcting. This correction ended on March 2, when the price touched a low of $1.51. 

Experts believe that the $1.95 resistance is a very crucial level in the PI market. They suggest that if the market breaks above this resistance, it could confirm the bullish wave count. 

Pi Network Price Prediction 

According to analysts, if the price of PI breaks above the $1.95 resistance decisively, it could reach as high as $2.40. If PI fails to overcome the pressure from the resistance, its price could slip to a depressively low level of $1.11.

Why Pi’s Market Outlook Remains Positive

Despite recent struggles, several factors could help push Pi higher:

Strong Support for a Binance Listing
A Binance community poll showed most respondents favor Pi being listed, which could boost investor confidence.

Growing Merchant Adoption in Asia
Businesses in China, Vietnam, and South Korea have started accepting Pi as payment.

Speculation on U.S. Reserve Inclusion
Since Pi is a U.S.-developed cryptocurrency, some speculate it could be considered for the U.S. national reserve in the future.

All in All?

Pi Network’s price movements have been volatile, but technical indicators suggest a possible bullish breakout. If Pi reclaims $1.95, it could surge toward $2.40. However, if it struggles to break resistance, it may fall back to $1.11.

Will Pi overcome this hurdle and continue its climb? The next few days will be crucial.