Pi Network Faces Significant Price Volatility in Unlocking Event

The cryptocurrency market is heating up with activity as Pi Network prepares for a significant token unlock event. With 188 million Pi tokens set to be unlocked in March, investors and traders are closely monitoring the potential impact on Pi's price. Despite not being listed on major exchanges, Pi Network has attracted a large following, and the upcoming event could shape its price trajectory in the future. Price Pi struggling at important resistance level Recently, Pi Network has encountered significant resistance near the $2.01 mark, failing to sustain a breakout. This rejection has raised concerns among traders about the potential for a price decline. If the downward trend continues, Pi could drop to a key support level around $1.5855. On the other hand, if the buying side can push the price above the $2.01 resistance level, Pi could rise to the next target at $2.23. Market sentiment and overall trading volume will play a crucial role in determining the next move. Technical indicators suggest that Pi is at a tipping point, with both upward and downward risks in the future. Market Sentiment Driven by Bitcoin Reserve Initiative In addition to the excitement of the market, a significant macroeconomic development has affected the overall cryptocurrency sentiment. President Donald Trump recently signed an executive order to establish a strategic Bitcoin reserve fund. This move has sparked new discussions about the role of Bitcoin as a digital store of value, similar to gold. Many analysts believe this could be a turning point in the US government's approach to cryptocurrencies. Although Pi Network is not directly related to Bitcoin, broader market trends often impact alternative cryptocurrencies (altcoin). An increase in Bitcoin price can boost investor confidence across the entire cryptocurrency market, potentially benefiting Pi Network. What Is Pi Network Waiting For? With the upcoming major token unlock event and the continuous market fluctuations, the future of Pi Network is still uncertain. A strong and dedicated community is the key factor for Pi's growth, and long-term holders may play a crucial role in minimizing any short-term price volatility. If Pi successfully surpasses the $2 resistance level, the next price targets such as $2.23 and above could be achieved. However, failure to sustain the price momentum could lead to a decline towards the $1.58 support level. Some market analysts are optimistic, believing that Pi has the potential to soar to the $10 mark in the future. This requires enhanced implementation, listing on exchanges, and favorable market conditions. As March approaches, all eyes are still on Pi Network and how it will navigate this crucial phase in its journey. Investors should be cautious and stay updated as developments unfold in the coming weeks.