The Cryptocurrency market sees a lot of activity when PI network is confronted with price movement, with a large token -disconnecting event in March. Although it is not mentioned at large stock exchanges, Pi Network has received a huge supporter, and with the unlocking event on the horizon, the crypto community looks closely to see how it will influence the price of PI.
Pi’s price is struggling in the midst of resistance
Pi Network recently had to deal with rejection near the $ 2.01, express concerns about a potential disadvantage Movement. If the Bearish trend continues, the price of PI could fall in the direction of important support levels around $ 1,5855. On the other hand, an outbreak above the $ 2.01 resistance can push the price to $ 2.23.
Technical indicators suggest that the PI network is at a critical point and the following movements of the market will depend on whether PI can break beyond the resistance or that sellers continue to exert pressure.
Executive Order increases the market sentiment
In the meantime, the broader market for cryptocurrency has been influenced by recent news. President Donald Trump has signed an executive order to create a strategic Bitcoin reserve, which is expected to stimulate the overall crypto market. This development has drawn attention to Bitcoin’s potential as a value storage, related to gold, and could indicate to the shift of the US government to cryptocurrencies. Although the PI network is not directly connected to Bitcoin, such macro trends often transfer to Altcoins.
What is the next step for Pi Network?
With the upcoming token disposal event and the ongoing market volatility, many ask: what is the next step for PI Network? Since the PI community remains strong and commit to the long-term company, this can help to reduce the impact of unlocking in the short term. However, if Pi does not break beyond the resistance of $ 2, a disadvantage to $ 1.58 can be in store. A few experts also suggest that PI could reach $ 10 soon.