The post Analyst Says ‘Good News’ Soon Despite 50% Crash appeared on BitcoinEthereumNews.com.

While the broader crypto market experiences a strong rally, with Bitcoin (BTC) up nearly 20% to $92,000 from its low of $78,249 on February 28, 2025, Pi Coin (PI) has taken a surprising downturn. Despite the market’s optimism, fueled by U.S. President Donald Trump’s announcement of a “strategic national Bitcoin reserve” and the upcoming White House Crypto Summit on March 7, Pi Coin has dropped 50% in the past four days, falling from $3 to $1.50. Bitcoin’s recent surge comes after a tough February, during which it dropped 25% from its all-time high of $107,791. The rally has driven other major cryptocurrencies like Ethereum (ETH), Ripple (XRP), Solana (SOL), and Cardano (ADA) to gains between 12% and 50%. However, Pi Coin’s decline stands in contrast, despite the overall strength of the crypto market. However, analyst Kim Wong said that $1.50 is considered a strong support level for Pi Coin, making it a potentially attractive buy for investors anticipating good news and positive market sentiment in the near future. With Pi Coin’s current price and the general strength of the crypto market, this might be an ideal time to consider an entry point. Important Resistance and Support Levels The first level to watch is $2, followed by $2.20 as the next major resistance. An extended bullish target could push the price above $2.50. The market shows signs of momentum with a bullish MACD crossover and a Stochastic RSI moving out of oversold territory. With increasing volume near the breakout, there is potential for a bullish move, making this a setup to monitor closely. The key support levels for Pi Coin are between $1.50 and $1.70. Source: https://coinpedia.org/news/pi-coin-price-prediction-today-analyst-says-good-news-soon-despite-50-crash/

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Filed under: News - @ March 3, 2025 4:22 am