Pi Network Price Plummets 60% Amid Speculation Over BTCC Listing and $1 Target

Pi Network's listing on BTCC has ignited debate among investors as the token, which has fallen more than 60% over the past month, now trades around $0.72 following a 22% weekly dip. The improved accessibility via BTCC has fueled speculation that the coin might eventually reach the $1 mark. Analysts point to limited token unlocks and promising technical indicators such as key Fibonacci retracement levels, a double-bottom formation, and emerging bullish signals on RSI and MACD, which could trigger a short-term rally if the resistance at $0.70 is overcome. However, concerns persist regarding the coin's erratic price behavior, limited exchange support beyond BTCC, and a general speculative trading environment. These factors indicate that sustained upward momentum may hinge on broader market acceptance and potential listings on major exchanges like Binance or Coinbase. If critical support levels, especially around $0.68, hold, a turnaround could be on the horizon, but a breakdown might lead to further declines.