Pi Price Prediction: Can PI Climb Back Above $1? Key Levels to Watch

Pi (PI) has gone down by 4.3% in the past 24 hours and trading volumes seem to have evaporated as the crypto market appears to be ready to cool down from its recent peaks.

Selling pressure was strong for PI at the $0.85 – $0.80 levels and this ended up pushing the price to its current levels.

The project’s Pi Network Ventures announcement, which consisted of a $100 million ecosystem growth fund, failed to dazzle the market and had a counter-intuitive impact on the price action.

The Pi Core Team teased this announcement as a “big” development concerning the project but the fact that this was just a vague statement disappointed Pi supporters and favored a bearish Pi price prediction.

Meanwhile, Pi published a blog post just five days ago mentioning the launch of five new apps and a new recovery account alternative.

The community has not embraced these announcements lately as they believe these are failed attempts to manipulate the price in favor of insiders who have been cashing out of Pi recently as per data from Dr. Altcoin – a notable project supporter and prominent voice for all things Pi on X.

Pi Price Prediction: PI Risks a 7% Drop After Trend Line Break

The hourly price action shows that Pi broke below a descending triangle that had been forming since last Sunday.

The price made several lower highs consecutively and failed to stay above a key support at around $0.73. Today’s bearish momentum ended up breaking that threshold and pushed PI to its current 9-day low of $0.7170.

The Relative Strength Index (RSI) favors a bearish Pi price prediction as well as it has dropped to oversold levels. Although this is often interpreted as if the price action has gone too far too fast, it is also indicative of the trend’s strength.

An oversold RSI also implies that bears are in control of the price action and that momentum favors further declines in the near term.

The key support level to watch if the price keeps dropping would be the $0.6700 level, which translates into a 7% downside potential in the near term.

In contrast to Pi’s recent downtrend, the best crypto presales of this year like Solaxy (SOLX) have performed quite well as they have showcased a strong use case.

Solaxy (SOLX) Prepares to Wrap Up Its Successful Presale with More than $40M Raised

Solaxy (SOLX) is a layer-2 scaling protocol for the Solana network that aims to solve the congestion issues that have affected this blockchain’s performance in the past.

The developing team has made significant progress in launching the solution and has already deployed a testnet, a bridge, and a block explorer that investors can use to check the L2’s performance in real time.

Analysts agree that the demand for $SOLX will explode once Solaxy is embraced by top wallets and exchanges.

With just 18 more days to go before the presale event ends, there is still a chance to buy $SOLX at its discounted price of $0.001738.

To buy $SOLX, head to the Solaxy website and connect your wallet (e.g. Best Wallet). You can either swap SOL or USDT for this token or use a bank card to invest.

Alejandro Ar