Pi Network price has been under intense volatility this week as the delayed listing on top exchange Binance reduces the market interest. Pi Coin is now down by 71% from its all-time high price near $3. Token holders are wondering whether a recovery is still possible for this newly launched altcoin. In this article, we explore whether the Pi Network token can realistically reach its all-time high again.
Pi Network Price Prediction & Analysis
The Pi Network token trades at $0.845 today with a modest 2% gain in 24 hours. Pi Coin seems to gearing for a reversal past $1 in the near term. Meanwhile, traders booking profits after short-term rallies might cut this rally short.
The hourly chart shows that Pi Coin broke out from a descending parallel channel. However, it is reversing to test support at the upper trendline. If this support fails, it could cause a resumption of the Pi Network bearish trend.
The volume histogram bars indicate there was an uptick activity, which also pushed the RSI to 66. However, this indicator has since dropped to 56 as some traders begin selling.
Nevertheless, the green AO bars show a bullish divergence. This suggests that Pi Coin price could soon record a reversal, past the psychological level of $1.
PI/USDT: 1-hour Chart
However, despite the positive AO bars and a breakout from a descending channel, can Pi Network price realistically reach the $3 ATH again?
Can Pi Coin Realistically Hit $3 ATH Again?
Besides the bullish setup on Pi Coin’s hourly chart, other signals show a bullish Pi Network price prediction that it can realistically reach $3 again.
Pi Coin advocate Dr Altcoin, recently observed that some traders are buying the dip. Per the analyst, one account purchased 3.65 million Pi Network tokens in six different transactions. If more traders buy at the low prices as they anticipate a price recovery, it could precede a major rebound in the price.
Bullish news could also be the main driver of a Pi Coin rally to the $3 ATH level. The Pi Coin community remains hopeful that top exchanges like Binance will list the altcoin. Moreover, if listed on Coinbase, Pi Coin will gain access to the US crypto market, which will drive high trading volumes and stir a rally to an ATH.
There is also speculation that a spot Pi Coin ETF could launch soon. Like Solana, XRP, and Cardano, which have all received ETF applications, Pi Coi is also a US-made altcoin. A filing could drive the momentum.
Considering these possible catalysts, Pi Network price can realistically reach the $3 ATH level again. If it does, Pi Coin will attain an over $30 billion market cap, making it one of the top ten largest cryptos.
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