Pi Network’s native token PI has entered a phase of steady recovery, with technical indicators pointing to mild bullish momentum as of March 18, 2025. The cryptocurrency, which experienced significant volatility since its mainnet launch in February, is now attempting to establish a firmer footing above key support levels.
Price action and key levels
As of the latest trading session, PI/USDT is hovering near $1.75, up approximately 4% over the past 24 hours. This follows a period of consolidation between $1.60 and $1.80 over the last week. The token’s recent low was recorded at $1.50 on March 10, a level that now serves as a strong support zone. On the upside, immediate resistance is seen at $1.90, followed by the psychological $2.00 mark.
Technical indicators on the daily chart are beginning to align with a bullish outlook. The Relative Strength Index (RSI) has climbed above 50, indicating that buying pressure is gaining traction. Additionally, the Moving Average Convergence Divergence (MACD) has formed a bullish crossover, suggesting that the short-term momentum is shifting in favor of buyers.
What is driving the recovery?
The recovery in Pi Network’s price comes amid broader stabilization in the cryptocurrency market. Bitcoin and Ethereum have shown resilience, which often supports altcoin sentiment. However, Pi Network-specific factors are also at play. The project’s development team has recently announced partnerships aimed at expanding the utility of PI in real-world transactions, which has helped restore some investor confidence after a turbulent post-mainnet period.
Another contributing factor is the growing number of active users on the Pi Network platform. Although the project has faced criticism regarding its tokenomics and the transition from a testnet to a fully operational mainnet, the user base remains substantial, with millions of Pioneers mining PI via mobile devices. This active community provides a baseline of demand that supports the token’s price.
Market context and sentiment
It is important to note that Pi Network remains a controversial asset. Unlike many cryptocurrencies that are fully decentralized, Pi Network’s consensus mechanism relies on a central authority during its enclosed mainnet phase. This has led to skepticism among some traders and analysts. However, the project’s roadmap includes plans for an open mainnet, which could address these concerns.
Sentiment in the broader crypto market has also improved, with the total market capitalization rising over the past week. This risk-on environment is providing a tailwind for speculative assets like PI. Still, traders should remain cautious, as the token’s price history has been marked by sharp swings.
Why this matters for investors
For those holding or considering PI, the current price action offers a glimmer of hope after a challenging few weeks. The mild bullish momentum suggests that the sell-off may be losing steam, but it is too early to declare a definitive trend reversal. The ability of PI to hold above $1.60 will be crucial in the coming days. A break below this level could invalidate the bullish setup and lead to further declines.
On the other hand, a sustained move above $1.90 could open the door to retesting the $2.20 area, which was a significant level in early March. Investors should monitor trading volumes to confirm any breakout, as low-volume moves are often unreliable.
Conclusion
Pi Network’s price is showing signs of stabilization, with technical indicators hinting at mild bullish momentum. However, the asset remains highly speculative, and the broader market environment can change quickly. As always, investors should conduct their own research and consider the risks before making any trading decisions.
FAQs
Q1: What is the current price of Pi Network (PI)?
As of March 18, 2025, PI is trading around $1.75, reflecting a 4% increase over the last 24 hours.
Q2: Is Pi Network a good investment?
Pi Network carries significant risk due to its centralization and uncertain regulatory status. It is essential to do thorough research and consult a financial advisor before investing.
Q3: What are the key support and resistance levels for PI?
Immediate support is at $1.60, with a stronger support at $1.50. On the upside, resistance is at $1.90, followed by $2.00.
Disclaimer: The information provided is not trading advice, Bitcoinworld.co.in holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.
