Pi Network is showing signs of a potential trend reversal after a recent price drop, but there are still obstacles that could slow its advance.
At the time of writing, PI Coin (PI) is trading at $0,7796, up 6% in the past 24 hours. However, it is down a whopping 38% in the past week and is now more than 70% below its peak of $2,99 reached in February. Trading volume has increased slightly, with more than $221 million in the past day, up 0,8%. This seems to indicate renewed interest in the market.
Looking at the daily chart, we see mixed signals. The relative strength index is around 51, indicating a neutral trend. At the same time, both the momentum indicator and the moving average convergence divergence (MACD) indicate that there is still selling pressure.
Despite the 20-day and 30-day moving averages now giving a buy signal, the short-term moving averages such as the 10-day EMA and SMA still continue to send out sell signals. We see a support level around $0,77, but to confirm a stronger recovery trend, the token needs to break above $0,84.
While PI is showing signs of recovery, it still faces significant challenges that could hinder further price appreciation. Many users have been unable to access their coins since the mainnet launch in February due to ongoing Know Your Customer delays. This has led to frustration, especially among early miners who expected to be able to use or trade their tokens freely.
In addition, there are concerns about the coin's absence from major exchanges such as Coinbase and Binance. Despite PI being traded on platforms such as Gate.io, Bitget, and OKX, the lack of a Tier 1 listing has led to low liquidity and hindered wider adoption.
Some community members suspect that the team’s lack of transparency is partly to blame for the listing shortage. There are also questions about the $100 million Pi Network Ventures fund, which was intended to support new projects in the ecosystem but has made little progress so far.
Despite a large user base of potentially 60 million, PI has few practical applications. Beyond speculation, there is little demand for the token, as there are not many widely used decentralized applications or DeFi services within the network. Events like PiFest have helped build hype, but without working products or real-world use cases, price increases are often temporary.
PI could approach $1 again if it can maintain support above $0,77 and overcome resistance at $0,84. However, without adequate solutions to key issues such as token accessibility, exchange listings, and ecosystem growth, the price is unlikely to rise significantly.
“It's like a good wine: without the right conditions, it won't mature.”
What are the main obstacles for PI at the moment?
There are issues with token accessibility and the absence of listings on major exchanges, among other things, which affects liquidity.
How can the price of PI increase?
The price may rise if the token breaks above $0,84 and maintains support above $0,77, but this will require solutions to current restrictions.
What is the status of the Pi Network Ventures fund?
The fund, which was intended to support new projects, has made little to no visible progress so far, raising questions within the community.