Analyst Says ‘Good News’ Soon Despite 50% Crash
Although the wider cryptocurrency market has experienced strong rally, while Bitcoin (BTC) has grown nearly 20% to $92,000 from its low of $78,249 on February 28, 2025, the decline in Pi Coin (PI) is surprising. Despite optimism, U.S. President Donald Trump announced the “Strategic National Bitcoin Reserve” and the upcoming White Crypto Summit announced on March 7 that Pi Coin has dropped 50% over the past four days, from $3 to $1.50.
Bitcoin’s recent surge comes after a tough February, during which time its all-time highs have dropped by 25%. The rally drove other major cryptocurrencies such as Ethereum (ETH), Ripple (XRP), Solana (Sol) (Sol) and Cardano (ADA) to grow 12% to 50%. However, despite the overall strength of the crypto market, despite the decline in Pi Coin is the opposite.
However, analyst Kim Wong said $1.50 is considered a strong support level for PI coins, making it likely an attractive buy for investors looking forward to good news and positive market sentiment in the near future. With Pi Coin’s current price and general advantages in the crypto market, this may be an ideal time to consider the entry point.
Important levels of resistance and support
The first level to watch is $2, followed by $2.20 as the next major resistance. The expanded bullish target could push the price higher than $2.50. The market showed signs of momentum, with a bullish MACD crossover and a random RSI moving out of oversold territory. As the amount of breakout increases, bullish actions may be made, making it a closely monitored setting. The main support levels for PI coins range from $1.50 to $1.70.
