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The Pi Network price plunged 57% in the last 24 hours to trade at $0.658 as of 11:21 p.m. on trading volume of $972 million.
The highly anticipated launch of Pi Network’s Open Mainnet on Feb. 20 led to significant price fluctuations for its native token PI Coin as initial excitement quickly turned into a rapid sell-off.
This morning, $PI launched, and as expected, it’s been a full-blown dump since going live.
Right now, PI remains in an LTF downtrend. The first sign of strength would be gaining $0.928 to form a higher low.
Stay tuned for more $PI TA updates! pic.twitter.com/nCj08Gs4uy
— N0IR (@0RN0IR) February 20, 2025
Pi Network, a platform that lets users mine cryptocurrency through a mobile app without requiring power-intensive hardware, moved from a restricted beta phase to an open blockchain, allowing transactions outside its ecosystem.
Pi Network Price Shows Bearish Reversal and Potential Support Zones
The PI Coin price action suggests that the token experienced a parabolic rally, reaching a high of $2.10 before undergoing a steep correction. The drop has been severe, with the Pi Network price now hovering around the 0.786 Fibonacci retracement level at $0.73134 and attempting to find support.
As a result, the overall trend is bearish, as the price of PI has broken below multiple Fibonacci levels without showing signs of a strong reversal. The recent price action indicates consolidation, but the downward trajectory remains dominant.
The price has already breached the 0.618 level ($1.30387) and is trading below the 0.786 level ($0.73134), indicating further weakness. If the price fails to hold this level, it may test the 1.0 Fibonacci level ($0.00205), which is extremely low.
The 50-day Simple Moving Average (SMA) is currently at $0.79068, well above the current price, confirming the bearish momentum. The price struggling below this moving average suggests that buyers have not yet regained control.
Meanwhile, the Relative Strength Index (RSI) value is at 32.56, approaching the oversold zone (30 and below). While this suggests that a short-term bounce could be possible, the overall weakness in price action indicates that sellers remain dominant. If the RSI drops further below 30, it could signal an extremely oversold condition, increasing the probability of a minor price recovery.
PI Price Prediction
If selling pressure continues, the price of PI Coin may break below $0.65 and potentially test lower support levels, possibly approaching $0.60 or lower.
However, the oversold RSI hints at a possible short-term bounce towards the $0.73 (0.786 Fib level) or the 50-SMA ($0.79) before facing renewed resistance.
If the Pi Network price can reclaim the 50-SMA and hold above it, it could signal a reversal and an attempt to regain higher Fibonacci levels.
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99Bitcoins, a prominent YouTube channel with over 725k subscribers, says BTCBULL has the potential to soar 10X after launch.
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In addition, each $25,000 move higher in the price of Bitcoin will trigger a $BTCBULL token burn, further strengthening the bull case for $BTCBULL token.
🚨 $BTCBULL is Live in Upcoming Tokens! 🚨@BTCBULL_TOKEN is a Bitcoin rewards-based meme token that delivers milestone-based airdrops as Bitcoin hits new price levels.
With built-in incentives for buying, holding, and trading, $BTCBULL gives holders a new way to stack BTC.… pic.twitter.com/BMzBHcLltU
— Best Wallet (@BestWalletHQ) February 10, 2025
A huge $BTCBULL Token airdrop also awaits the strongest hodlers when BTC hits $250,000, weighted by the participant’s Community Sale purchase amount.
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