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- PI Coin faces a rebound after a week of massive selloff in the broader market.
- Expectations of a Binance listing are driving renewed optimism for the coin.
The price of Pi Coin (PI) is currently showing signs of recovery amid a broader market resurgence. Pi Coin plunged 24% earlier this week, following a $160 billion crypto wipeout. However, expectations of a potential Binance listing have triggered speculation about a 100% price surge.
Pi Coin’s Journey to Recovery
Pi Coin traded as low as $2.11 on Friday, losing a substantial amount of its recently acquired gain. This decline comes after a general market sell-off, partially triggered by President Donald Trump’s tariff policies affecting global markets.
As CNF discussed earlier, Trump announced a 25% tariff on imports from the European Union, dragging down the entire crypto market. The price of Pi Coin dropped 12.97% to $2.11, while the trading volume fell 56.7% to $1.53 billion.
Pi Coin has recovered slightly as of this writing, currently traded at $2.13, following a 7.1% increase in the last 24 hours. Its market cap now is $14.35 billion, but the daily trading volume is down 24% to $1.32 billion.
Meanwhile, Binance conducted a survey that revealed that 86% of participants support listing Pi Coin on the exchange. As indicated in our earlier discussion, listing Pi Coin on Binance could improve liquidity, adoption, and global trading access. This confidence in the PI ecosystem stems from related trends that trail the listing of tokens on the top exchange and the massive exposure from the Binance ecosystem.
Analysts have forecasted that the listing could ignite a 50% to 100% surge in Pi Coin. If this prediction holds, Pi Coin could surge between $3.67 and $4.20. Pi Coin can attain this price in the future as the network gained substantial traction just a few days after the mainnet launch.
Over 60 million users have registered on the Pi Coin Network, which has provided resilience against market downturns. Additionally, more crypto exchanges support Pi Coin, making it easier for traders to buy and sell. This increased accessibility could translate to higher demand.
Also, a huge portion of PI remains locked. With demand surging and available supply limited, prices may surge to new highs.
What Technical Analysis Says
The Relative Strength Index (RSI) for Pi Coin is currently at 31.36, moving towards the oversold level 30. An RSI below 30 often suggests that selling pressure is fading, which could lead to a price recovery.
Additionally, Pi has fallen below the lower Bollinger Band, a volatility indicator that shows a possible oversale and impending bounce in the token.
For Pi Coin to regain momentum, it must break over $2.56, which might spark a rally to its all-time high of $3. However, PI may fall further to $1.62 if it fails to get traction. Pi Coin’s long-term success will depend on whether it can move beyond speculation and establish real-world use cases.
