Pi Network (PI) Price Analysis: Can the Recovery Surge Beyond $1 Amid Key Challenges?

Pi Network’s token (PI) is showing early signs of recovery, currently trading at $0.7796 with a 6% increase in the last 24 hours. However, it remains 38% down over the past week. The cryptocurrency is struggling to rebound to its February all-time high of $2.99 due to ongoing market challenges.

Technical indicators present a mixed outlook. The RSI is NEAR 51, indicating neutral momentum, while there are signs of intermittent buying pressure. A crucial support level at $0.5580 could lead to a 45% drop to $0.40 if breached.

Operational issues add to the price pressures. Delays in KYC verification and mainnet accessibility problems have persisted since the February launch, disappointing the community. The lack of listings on major exchanges and real-world utility applications continues to limit growth potential.