Pi Network (PI) Morning Market Update Monday 24th Feb 2025
Current Price Overview:
• Current Price: $1.528 (-0.83%)
• 24H High: $1.698
• 24H Low: $1.206
• Resistance Levels: $1.60 – $1.70
• Support Levels: $1.50, then $1.40 – $1.42
Recent Developments:
Pi Network successfully launched its Open Mainnet on February 20, 2025, after multiple delays. This milestone allows users to conduct transactions beyond the Pi ecosystem and interact with external networks on the Mainnet blockchain. The launch led to significant market activity, with the PI token being listed on multiple exchanges, and experiencing sharp price movements. Initially, the price surged to $2.10 but quickly corrected, stabilizing around the current price of $1.528. 
Market Sentiment:
The sentiment surrounding Pi Network is mixed. While the mainnet launch has been a significant achievement, concerns have been raised regarding the project’s legitimacy. Notably, Bybit CEO Ben Zhou labeled the project a scam, citing warnings from Chinese authorities. These allegations have contributed to increased volatility and caution among investors. 
Fundamental Analysis:
Pi Network has amassed a substantial user base since its inception in 2019, with over 19 million Pioneers completing KYC verification and more than 10 million migrating to the Mainnet. The project’s goal of creating a decentralized and user-friendly cryptocurrency ecosystem is ambitious. However, the recent price volatility and external criticisms highlight the importance of transparency and robust security measures to maintain investor confidence. 
Key Technical Indicators:
• MACD: The Moving Average Convergence Divergence (MACD) indicates a potential bearish crossover, suggesting possible downward momentum.
• RSI: The Relative Strength Index (RSI) is approaching oversold territory, which may indicate a potential buying opportunity if the trend reverses.
• Fibonacci Retracement: The current price is testing the 61.8% Fibonacci retracement level from the recent high, a critical point that could determine future price direction.
Recommendations:
1. Monitor Support and Resistance Levels: Keep an eye on the $1.50 support level. A break below this could lead to further declines toward the $1.40 – $1.42 range. Conversely, surpassing the $1.60 – $1.70 resistance zone may pave the way for upward movement.
2. Stay Informed on Project Developments: Given the mixed sentiment and external criticisms, staying updated on official communications from the Pi Network team is crucial. Transparency and proactive engagement can significantly influence investor confidence.
Good luck, and follow for more!
• Current Price: $1.528 (-0.83%)
• 24H High: $1.698
• 24H Low: $1.206
• Resistance Levels: $1.60 – $1.70
• Support Levels: $1.50, then $1.40 – $1.42
Recent Developments:
Pi Network successfully launched its Open Mainnet on February 20, 2025, after multiple delays. This milestone allows users to conduct transactions beyond the Pi ecosystem and interact with external networks on the Mainnet blockchain. The launch led to significant market activity, with the PI token being listed on multiple exchanges, and experiencing sharp price movements. Initially, the price surged to $2.10 but quickly corrected, stabilizing around the current price of $1.528. 
Market Sentiment:
The sentiment surrounding Pi Network is mixed. While the mainnet launch has been a significant achievement, concerns have been raised regarding the project’s legitimacy. Notably, Bybit CEO Ben Zhou labeled the project a scam, citing warnings from Chinese authorities. These allegations have contributed to increased volatility and caution among investors. 
Fundamental Analysis:
Pi Network has amassed a substantial user base since its inception in 2019, with over 19 million Pioneers completing KYC verification and more than 10 million migrating to the Mainnet. The project’s goal of creating a decentralized and user-friendly cryptocurrency ecosystem is ambitious. However, the recent price volatility and external criticisms highlight the importance of transparency and robust security measures to maintain investor confidence. 
Key Technical Indicators:
• MACD: The Moving Average Convergence Divergence (MACD) indicates a potential bearish crossover, suggesting possible downward momentum.
• RSI: The Relative Strength Index (RSI) is approaching oversold territory, which may indicate a potential buying opportunity if the trend reverses.
• Fibonacci Retracement: The current price is testing the 61.8% Fibonacci retracement level from the recent high, a critical point that could determine future price direction.
Recommendations:
1. Monitor Support and Resistance Levels: Keep an eye on the $1.50 support level. A break below this could lead to further declines toward the $1.40 – $1.42 range. Conversely, surpassing the $1.60 – $1.70 resistance zone may pave the way for upward movement.
2. Stay Informed on Project Developments: Given the mixed sentiment and external criticisms, staying updated on official communications from the Pi Network team is crucial. Transparency and proactive engagement can significantly influence investor confidence.
Good luck, and follow for more!
Nota
Price Movement Overview
Pi Network (PI) is currently trading at $1.90437, up an impressive 19.35% today. The price has surged from a low of $1.42668 to a high of $1.98471, with a sharp upward spike visible in the last few hours.
Key Technical Levels
Resistance Level - The $2.000 level is now a key near-term resistance. If PI breaks above this with strong volume, it could target an upper range of $2.100 to $2.200 in the short term. Breaking $2.000 would be a major bullish signal, potentially kicking off a stronger rally.
Support Zone - On the downside, if we see a pullback, the $1.800 to $1.700 range looks like solid support. If the price dips into this zone, it could present a good re-entry opportunity for buyers, especially if volume remains high or other indicators confirm a bounce.
Fibonacci retracement levels appear to align near $1.800, supporting that as a key support if the price pulls back.
Watch that $2.000 resistance and $1.800-$1.700 support closely, and stay alert for volume shifts ✅
Nota
Pi hit a new ATH (All-time-high) of $3.00 today where it was met with a large amount of sell orders. We dropped down to $2.20 support where we got a small bounce and seem to have stabilised around $2.45 at time of writing
Follow for more daily Pi Coin updates
I remain bullish on Pi Network 🚀
Nota
Pi Network is seeing some serious volatility right now! 📉🔄 After recently hitting a high of $3.00, the price has dropped sharply, currently trading around $2.09 (-24%).
📊 Key Levels to Watch
🔴 Resistance: $2.60 - $3.00 (Sellers stepping in)
🟢 Support: $2.19 (Holding for now), with a major zone near $1.50
Possible Scenarios
📈 Bullish Case: If Pi finds support at $2.19 and bounces back, we could see another test of $2.60-$3.00. A breakout above this level could trigger a fresh rally! 🚀
📉 Bearish Case: If selling pressure continues and $2.19 breaks, we might see a deeper drop to $1.50-$1.60, a critical demand zone.
🔥 Current Trend: Bearish momentum, but oversold conditions might bring a relief bounce soon!
💬 What’s Next? Will Pi recover or drop further? Let’s discuss! 👇 #PiNetwork #Crypto #Trading
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Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.