Pi Network Price at a Crossroads: Can PI Reach $100 Before Mainnet Launch?
- Pi Network shows strong price rebound and bullish technical indicators toward $100 target.
- Mainnet launch depends on completing KYC for 10 million users by December 31.
- Growing adoption and potential exchange listings could boost Pi’s value in 2024.
Pi Network (PI) is drawing more attention from investors after a strong price rebound. Technical indicators suggest more gains are possible, and the cryptocurrency is showing resilience. After finding support at the 200-day Exponential Moving Average (EMA), Pi is on track for possible further growth. As the mainnet launch draws closer, many are asking if Pi can reach the coveted $100 mark before the event.
Pi Network’s price has recently bounced back after testing the 200-day EMA, a key support level for many cryptocurrencies. Since October 12, the coin has consistently held above this level, signaling strength and stability. Moreover, the price remains above an ascending trendline… pic.twitter.com/48WvZmp2OT
— Mr Spock 𝛑 (@MrSpockApe) December 10, 2024
Technical Indicators: A Strong Rebound
Pi Network has shown strength after bouncing off the 200-day EMA. This support level has held steady since October 12, signaling stability. Pi also remains above an ascending trendline formed since September 20. These factors point to a continued bullish outlook. At press time, the PI token was trading at $68.80, with the next resistance point at $75.83, the December 8 high.
If Pi breaks this level, the next target could be the November peak of $91.83. Should the price surpass these levels, reaching $100 becomes a real possibility—a 75% gain from current levels. However, a drop below $44.32 would invalidate the bullish momentum, with the next support at $29.27.
Growing Utility and Exchange Listings
The upcoming mainnet launch is a key factor driving Pi’s price action. Set for early next year, the launch depends on completing the Know Your Customer (KYC) process for 10 million users. Over 7.2 million users have been verified, with 2.8 million remaining to meet the target by December 31.
If the KYC process stays on track, the mainnet launch could provide a significant boost to Pi’s price. Pi Network’s growing utility is another factor adding fuel to the fire. More businesses are accepting Pi as a form of payment, increasing adoption. Furthermore, speculation is growing that major exchanges like Binance and Coinbase may list Pi soon.
A listing on these platforms would give Pi greater exposure and liquidity, helping push the price closer to $100.With the mainnet launch and growing adoption, Pi Network is positioned for an exciting 2024. If the bullish momentum holds, breaking key resistance levels could propel the coin toward new heights.
