Pi Token is seeing price volatility as an important token unlock event is scheduled to occur in March. Though Pi is not traded on large exchanges, it has gained a strong community base, and quite a few are eagerly observing how the unlock will influence its price.
Pi recently turned down at about $2.01, fueling fears of further price drops. If there is continued pressure to sell, it could be headed to the support point of $1.58. However, if it can break the resistance of $2.01, the price might go to about $2.23.
Market conditions are largely influencing how Pi and other cryptocurrencies are moving. Technical analysis indicates that Pi is at a critical phase where it may either experience a price increase or fall based on investor movement. In the wider crypto market, the news of President Donald Trump signing an executive order to establish a strategic Bitcoin reserve has stirred interest.
This step should make investors gain confidence in Bitcoin, further aligning it with gold as a store of value. Although Pi Network is not directly connected to Bitcoin, big developments like this often influence altcoins as well.
Future of Pi Token
With the pi token unlock event approaching and market volatility still present, investors are wondering what will happen next. Pi’s strong community of long-term holders could help reduce selling pressure when the unlocked tokens enter the market. However, if Pi struggles to move above the $2 resistance, the price could decline further.
Some analysts have opined that Pi may even hit $10 in the near future, yet the short-term trend is anyone’s guess.
Most in the crypto community are closely observing the performance of Pi Network in the days to come. With the future unlock, $10 is an easy target.
