BitMart Exchange Relists Pi Coin: Could This Spark a Rally Amid Market Downturn?

Pi Coin (PI) has fallen below the crucial $0.60 support level, dropping over 3% in the last 24 hours. The token’s 30-day performance shows a steeper 15% decline, standing out negatively in a month where most major cryptocurrencies have surged. market sentiment is split: some investors see the drop as a red flag, while others consider it a potential buying opportunity.

Technical analysis reveals a fragile position. Since mid-April, PI has traded between $0.59 and $0.67, with the current price testing the lower boundary at $0.58. A sustained break below this level could lead to further losses. However, two bullish developments emerge: BitMart’s reinstatement of PI trading and Banxa’s creation of thousands of new accounts—factors that could revive the community’s hopes for a $3 price target.