Info Guide
Pi Coin price drops as crypto market faces broad sell-off
Pi Coin has experienced a sharp 13% decline in the trading market, hovering around a crucial support level of $1.10.
Technical indicators suggest that online traders are holding back from selling due to the drastic drop, further intensifying selling pressure. Reports indicate that Pi Coin is currently trading at $1.10, with concerns that it could break below this level and plunge to $1.05 or even $1.00.
However, analysts note that if bullish momentum returns, Pi Coin could rebound to $1.15, with an upper resistance target of $1.20.
The downturn in Pi Coin’s value has also impacted the broader altcoin market. JasmyCoin has reportedly dropped by 6%, while Litecoin and Ethena have recorded losses of over 5%.
This widespread sell-off comes amid a 1.70% decline in the overall crypto market, pushing the global cryptocurrency market capitalization down to $2.7 trillion.
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