The token climbs 50% in 24 hours, eyes on $ 1

The Pi token managed to stop its dramatic free fall, displaying a major rebound of almost 50% in the last 24 hours. Despite this short -term recovery, the token has undergone a heavy loss – out of 70% since its $ 2.98 peak in February, with a sharp decrease of 17% in last week. At the time of writing the editorial time, Pi Coin is negotiated at $ 0.64.

Why the sharp drop?

Analysts highlight the continuous unlocking of Pi tokens as a key factor behind the sharp decline. This process increases the offer of the token, while demand had trouble keeping the pace, losing a drop in its price.

Resistance levels of the keys to monitor

For the future, if PI can perceive resistance levels at $ 0.80 and $ 0.90, it could potentially exceed the bar of $ 1. However, this optimistic scenario is delivered with warnings. The current unlocking and the absence of major exchanges could continue to exert a sale pressure.

Is it a real recovery or a “dead cat rebound”?

Although the recent increase in prices can point out a resurgence of investors’ interests, caution is notified. Some experts warn that it could be a “dead cat rebound” – a temporary recovery after a sharp decline, often followed by new losses. Speculators can jump to get rapid benefits, but history shows that such recovery can be short -lived.

A new perspective of the community

A user shared a thoughtful socket, suggesting that the drop in PI network prices, although painful, was a necessary reset. “After a launch of Mainnet over-type, the part increased speculation, no use,” said the user. “The accident has eliminated weak hands and forced reality control – the value cannot count on mining gadgets or kyc delays alone. It is a chance for Pi to refocus on the creation of real world use and a lasting ecosystem.”