As June rolls out, most of the cryptocurrencies, even the strong ones like Bitcoin and Ethereum have been showing steeper fluctuations than a few months ago – constantly being pushed up and down as US tariff’s take shape. However, Pi Coin seemed to have slipped even lower that its key support levels. Let’s take a look at the Pi Network Price prediction:
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Currently valued around $0.632 on Sunday evening, the Pi coin has lost over 75% of its value since its February, when it touched its highest at almost $3. Even now, with the bearish pressures, the cryptocurrency has barely managed to scratch a little over $0.80, leading to further erosion in investor confidence.
According to market experts, all major moving averages – the 10, 20, 50, and 100-day EMAs and SMAs – are above the current Pi Network Coin price. Bollinger Bands are getting smaller, whoch could mean a breakout, but until that happens, bears seem to continue ruling.
For Pi network specifically, the lack of transparency is becoming a major hurdle in itself. However, all of that might just change for Pi Network market, because of the massive unlocking scheduled in June.
As per reports, 263 million Pi coins are set to be unlocked this month. Now on one hand, it could lead to further devaluation in the value, but at the same time with the higher number of investors – most likely with higher supply – the trading and therefore the value of the coin could just as easily shoot up.
Experts at InvestingCube say that if the Pi coin falls below $0.66, the losses could deepen further. If, however, the unlocking of new coins causes the Pi Network to break past the $0.7380 resistance level, the bearish momentum could break.
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Some market players and analysts are still keeping faith in the cryptocurrency, albeit with a cautiously optimistic view on its long-term potential. With the unlocking, if buying volume increases and the core team resolves the transparency issues which leads to improved sentiment, then the price of Pi coin could recover. If substantial momentum is achieved, it might even test $1.82 in June.
