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Pi Network User Growth High; PI Price Tests Key Support
By: cryptosheadlines|2025/05/07 00:00:01
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Airdrop Is Live CaryptosHeadlines Media Has Launched Its Native Token CHT. Airdrop Is Live For Everyone, Claim Instant 5000 CHT Tokens Worth Of $50 USDT. Join the Airdrop at the official website, CryptosHeadlinesToken.com Pi Network has surpassed 120 million downloads, signaling massive global adoption.BANXA’s KYB approval now allows users in 100+ countries to buy PI with fiat.Technical indicators show PI is at a critical support zone, with both bullish and bearish scenarios in play.With over 120 million downloads and 1.3 million new users in the past 30 days, Pi Network (PI) has firmly established itself as one of the most downloaded and trusted crypto apps worldwide. The network’s legitimacy gets support from its app ratings, It holds a solid 4.41-star rating based on nearly 900,000 reviews, while its grassroots adoption paints a vivid picture of a decentralized future taking root across diverse communities.From university campuses in Nigeria to small businesses in Southeast Asia and developers in Europe, people are not just mining PI but are actively building with it. BANXA Approval Creates Fiat BridgeAdding to this trust layer is BANXA’s recent KYB approval, which now allows users in over 100 countries to purchase PI using fiat currency.BANXA is now KYB approved!What does this mean for the Pi Community and beyond?It means people in over 100 countries can now instantly buy Pi with cash through BANXA. This is a game-changer for accessibility and global adoption.BitMart, HTX, and others are also expected to... pic.twitter.com/KRTCyXqlPc— Dr Altcoin (@Dr_Picoin) May 2, 2025This regulatory milestone is crucial as it turns PI from a mined token into a buyable asset, bridging it closer to mainstream finance.Technical Analysis: What the Charts SayFrom a trading standpoint, PI/USDT currently trades around $0.586, hovering near the 0.618 Fib level at $0.6109, which acted as a resistance.On the downside, key support zones lie at the following Fib levels: 1.618 ($0.5539), 2.618 ($0.5187), 3.618 ($0.4836), and 4.236 ($0.4618).A drop below $0.553 could see Pi retrace deeper into the lower Fib bands, with $0.518 and $0.483 becoming likely support areas. If these fail, sentiment could turn decisively bearish.Meanwhile, the MACD line is currently slightly below the signal line, suggesting a weakening bullish momentum. While it’s not yet a strong bearish crossover, there’s enough flattening to indicate uncertainty. If the MACD crosses clearly downward, expect further downside.The Relative Strength Index (RSI) is at 42.23 and in a neutral-to-bearish territory. It’s neither oversold nor indicating a reboundIf PI breaks and holds above the $0.6109 resistance, it could set the stage for a rally toward $0.65 and possibly $0.70, particularly if global news—like exchange listings or ecosystem launches—provides tailwinds.Failure to hold $0.5539, followed by breach of $0.5187, could confirm a bearish structure, opening doors to retest $0.48 or even $0.46, levels aligned with deeper Fib supports.Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.Source link
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