Pi Network price has plummeted by 82% from its February highs, leaving pioneers poorer and disappointed. Buyers have avoided the coin amid major challenges, including heightened dilution fears and a lack of exchange listings. However, this Pi coin price crash could be a generational buying opportunity as integrations start.
Pi Network Price Could Be an Opportunity as Integrations Start
One reason why the Pi Network price has plunged in the past few months is that it has not received any major integration or exchange listings. Even Binance, whose users voted unanimously for its listing, has not done so, citing inadequate disclosures.
This trend may be changing as the Pi coin has just been added in Banxa, a fast-growing fintech company that offers on and off-ramp solutions. This is a notable integration since it enables users to buy and sell Pi coin directly through their cards and wallets like Google and Apple Pay.
Pi Network price has other additional catalysts that may make the ongoing crash a generational buying opportunity. The most important one is exchange listings by one or more mainstream exchanges. This CoinGape article explained why it would form a God candle if Upbit listed it.
Crypto pundits on X wonder why Binance and other exchanges have not listed Pi Network, yet they have added many rug-pull scams, especially in the Solana ecosystem.
Pi Coin Price Technicals Point to a Rebound
The 4H chart shows why this Pi Network price crash could be a generational buying opportunity as the sell-off loses steam. Also, the token has formed a falling wedge pattern, comprising of two descending and converging trendlines. These two lines are now nearing their confluence point, where breakouts typically happen.
The value of Pi has also formed a bullish divergence chart pattern. This happens when an oscillator is rising as an asset continues its strong downtrend. In this case, the MACD indicator has continued rising and is slowly nearing its zero line.
The same is true with the Bollinger Bands Trend (BBTrend) indicator, which has continued rising, and could soon turn positive. This indicator looks at the spread between the outer lines of the Bollinger lines.
Therefore, in this case, the most likely Pi Network price forecast is bullish since all the coin needs is a simple catalyst. This catalyst may be an exchange listing, an ETF application, or the start of burning.
The bullish outlook will become invalid if the coin drops below the key support at $0.45. Such a drop could see it crash to the all-time low of $0.0983.
Frequently Asked Questions (FAQs)
The token has a generational buying activity as integrations start and as it forms a falling wedge chart pattern.
Pi has formed a falling wedge pattern, while oscillators have formed a bullish divergence pattern on the four-hour chart.
The other notable catalysts are potential exchange listings, an ETF application, and the start of burning.
crispus
Crispus is a seasoned Financial Analyst at CoinGape with over 12 years of experience. He focuses on Bitcoin and other altcoins, covering the intersection of news and analysis. His insights have been featured on renowned platforms such as BanklessTimes, CoinJournal, HypeIndex, SeekingAlpha, Forbes, InvestingCube, Investing.com, and MoneyTransfers.com.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
Source: https://coingape.com/markets/pi-network-price-crash-generational-opportunity-after-banxa-integration/
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