Pi Coin’s Bearish Trend Persists Despite Kraken Listing: A 22.95% Drop Expected by June 1st
Pi Coin, despite its recent listing on Kraken Pro futures, continues to face a bearish market outlook. Technical analysis indicates a projected 22.95% decline to $0.573381 by June 1st, from its current trading price of $0.746093. The cryptocurrency has failed to sustain any significant rally post-listing, with trading volume dropping over 60% from recent highs. This decline reflects waning investor interest and divided market sentiment, as the Pi Network struggles with declining activity. The lackluster performance raises questions about Pi Coin’s near-term viability and investor confidence in the project.
Pi Coin Faces Bearish Outlook Despite Kraken Listing
Pi Coin’s market performance continues to disappoint as technical analysis projects a 22.95% decline to $0.573381 by June 1st. The cryptocurrency currently trades at $0.746093 following its Kraken Pro futures listing, failing to sustain any meaningful rally.
Trading volume has plummeted over 60% from recent highs, reflecting waning investor interest. Market sentiment remains divided as the Pi Network grapples with declining activity and uncertain price action.
The Kraken listing, typically a bullish catalyst for digital assets, has done little to reverse PI Coin’s downward trajectory. Analysts caution that current conditions present significant investment risks for traders.
Bitcoin Price Consolidates Gains — Is a Breakout Brewing in the Range?
Bitcoin’s price action shows resilience as it establishes a foothold above $108,000, with technical indicators suggesting potential for further upside. A connecting bullish trend line on the hourly chart, anchored at $108,800 support, reinforces the positive momentum. Market participants are eyeing a decisive break above the $110,750 resistance level to confirm the next leg higher.
The cryptocurrency found robust buying interest NEAR $107,400 before staging its latest advance. Kraken’s BTC/USD pair data reflects this strength, with the asset now trading comfortably above both the psychological $108,000 mark and the 100-hour simple moving average. While bears attempted to cap gains at $110,750, the consolidation pattern hints at accumulating energy for another push.
