Pi Network's Native Token, Pi Coin (PI), Has Been Experiencing a Sharp 70% Decline

Pi Network's native token, Pi Coin (PI), has been experiencing a sharp 70% decline since February, sinking from nearly $3 to its current lows.

Pi Network’s native token, Pi Coin (PI), has experienced a sharp 70% decline since February, sinking from nearly $3 to its current lows. The crash followed excessive hype around its open mainnet launch, alongside a wave of token unlocks that flooded the market.

However, after a massive drop, Pi Coin has recently shown signs of a rebound, forming a pattern on the four-hour chart. This pattern signals a bullish breakout after the downtrend.

After entering oversold territory earlier this week, Pi’s Relative Strength Index (RSI) has seen some recovery, and the cryptocurrency has rebounded by 15%, hinting at further upside potential.

Pi Coin: Breakout Target at $1

Traders have been closely following Pi Coin’s breakout as it forms a triangle pattern, often an indicator of an upcoming price surge. This pattern is used to estimate potential price targets by measuring the triangle’s height and adding it to the breakout point.

Based on this calculation, Pi Coin’s projected upside target sits near $1, almost a 15% gain from current levels. The bullish behavior surrounding Pi Coin isn’t just based on technical analysis. A recent poll by crypto news outlet Tokenhell revealed that 88% of voters favor a Binance listing, highlighting the growing demand for wider exchange adoption.

However, Binance has still not confirmed if Pi Coin will be listed, leaving traders curious and anticipating an official announcement. If Binance or another major exchange decides to list Pi Coin, it would serve as a key movement for further price momentum in April.

With rising demand, strong technical indicators, and the potential for exchange listings, Pi coins could break out, leading to the start of a big rally.

Bitcoin Faces Bearish Breakdown—Will Pi Outperform?

While Pi Coin looks for a rebound, Bitcoin (BTC) is facing its technical challenges. BTC has broken below a key pattern on its four-hour chart, the bearish behavior that could lead to further downfall.

A rising wedge breakdown typically results in a price correction equal to the pattern’s maximum height. Applying this rule to Bitcoin’s chart, its potential downside target sits at $79,742, suggesting a further drop from its current levels.

Momentum indicators support this bearish outlook. The RSI has fallen below 50, signaling a shift in market sentiment from bullish to neutral-to-bearish.

Conclusion: Will Pi Coin Outperform Bitcoin in April?

Pi Coin has been facing a big sell-off, but its bullish behavior suggests that a short-term recovery could be fruitful. While Bitcoin is going for a price drop, Pi Coin is looking oversold, meaning that its price has fallen more than expected.

This seems to be an attractive choice for traders who are hoping for greater returns in the future. Although if the buying pressure increases, Pi Coin could bounce back soon, offering a good opportunity for short-term gains.

One of the biggest factors that could help in Pi’s recovery is the Binance listing. Additionally, the overall crypto market sentiment remains strong, which could further support a price rebound for Pi Coin.

While fundamentals still favor Bitcoin in the long run, Pi Coin’s current technical setup makes it one to watch in April. If momentum builds, Pi could become one of the top-performing assets of the month, at least temporarily, before facing its next major resistance level.