Will PI Network Reclaim $1 Amid Current Volatility?
PI Network's price has struggled this week, falling over 3% to hover around $0.54. This drop comes amid migration challenges ahead of the June 28 upgrade, leading some pioneers to sell off holdings. Just a month ago, PI was trading steadily above $1, but it now faces a critical test of support NEAR $0.40.
Technical analysts observe a symmetrical triangle pattern forming, with price movements confined between $0.54 and $0.74. A decisive breakout above $0.74 could fuel a rally back to $1, while falling below $0.40 might signal further declines.
Market attention now turns to the upcoming Pi2Day event on June 28. Potential catalysts include successful platform upgrades, improved macroeconomic conditions, or new strategic partnerships that could boost investor confidence. However, price pressures persist due to an influx of newly mined coins and limited adoption in real-world applications.
