Pi Network, one of the projects that attracts attention in the crypto currency market, was recently listed on the BTCC exchange. While this development attracted the attention of investors, the impact on the price was the subject of curiosity. However, it has been observed that the price of Pi Coin has lost significantly. Crypto currency fell to $ 0.68 in the last 24 hours and worried its investors. However, market trends indicate that Pi Coin can recover again.
Pi Network listed in BTCC
Pi Coin took an important step by opening spot operations on the BTCC exchange. Listing crypto currencies on new stock exchanges often has a positive effect on the price, while a similar expectation has occurred for Pi Coin. With this development, Pi Coin gained more than 1 percent in the last 24 hours and reached $ 0.7184. However, it is observed that it has experienced a decrease of more than 22 percent in the last week and more than 60 percent on a monthly basis.
Behind the last decline in the price of Pi Network, the large -scale token lock openings in March lie. This increased the supply and suppressed the price, causing a large amount of token into the market. In addition, the fact that there is no big announcement from Pi Core Team and that it is not listed in large stock exchanges such as Binance is among the negative factors.
Is it possible to rise in April?
Market experts predict that Pi Coin can recover in April. According to Piscan data, the lowest token lock opening will take place until April, August. In this process, only 124.32 million Pi Coins will be released. This amount is expected to increase seriously in May, June, July and August.
Especially the opening of only 1.5 million toks per day between 7-11 April means that a low supply is entered into the market. This indicates that with the increase in demand, the price can move upward. Analysts say that this low supply level can re -carry Pi Coin to $ 1.
Expectations for Pi Coin
Although crypto experts think that Pi Coin may enter the recovery process, fluctuations in the market pose a risk for investors. According to technical analysis, Pi Coin is likely to decline to $ 0.64. However, crypto money analyst Crypto Jex draws a positive picture for Pi Coin.
According to JEX, Pi Network is currently in a “ABC recovery formation .. The analyst sets $ 0.64-0.77 as the entry point, while the stop-loss level is $ 0.60. In line with the expectations of the rise, the first target is $ 0.95-1,00, while the next targets are ranked as $ 1.30-1.50 and over $ 1.80. JEX predicts that Pi Coin can test the $ 1 level with volume validation under current market conditions.
As a result, the list of Pi Network on the BTCC stock exchange has the potential to have a positive impact on the price. However, it is important for investors to act carefully considering market volatility.
