Pi Coin Rebounds 15% Amid Binance Listing Hopes, Bitcoin Faces Bearish Breakdown

Pi Coin, the native token of the Pi Network, has experienced a significant decline of 70% since February, dropping from nearly $3 to its current lows. This downturn followed an excessive hype around its open mainnet launch and a wave of token unlocks that flooded the market. Despite this, Pi Coin has recently shown signs of recovery, forming a bullish pattern on the four-hour chart. The Relative Strength Index (RSI) entering oversold territory earlier this week has contributed to a 15% rebound, suggesting further upside potential.

Technical analysis indicates that Pi Coin is forming a triangle pattern, which often signals an upcoming price surge. By measuring the triangle’s height and adding it to the breakout point, traders estimate Pi Coin’s projected upside target to be near $1, representing a 15% gain from current levels. This bullish behavior is further supported by a recent poll where 88% of voters favor a Binance listing, highlighting the growing demand for wider exchange adoption. However, Binance has yet to confirm if Pi Coin will be listed, leaving traders in anticipation of an official announcement. A listing on Binance or another major exchange could serve as a key catalyst for further price momentum in April.

Meanwhile, Bitcoin (BTC) is facing its own technical challenges. BTC has broken below a key pattern on its four-hour chart, indicating a bearish breakdown that could lead to further downfall. A rising wedge breakdown typically results in a price correction equal to the pattern’s maximum height. Applying this rule to Bitcoin’s chart, its potential downside target sits at $79,742, suggesting a further drop from its current levels. Momentum indicators support this bearish outlook, with the RSI falling below 50, signaling a shift in market sentiment from bullish to neutral-to-bearish.

In conclusion, while Pi Coin has faced a significant sell-off, its bullish behavior suggests that a short-term recovery could be fruitful. Bitcoin, on the other hand, is experiencing a price drop, making Pi Coin an attractive choice for traders seeking greater returns. If buying pressure increases, Pi Coin could bounce back soon, offering a good opportunity for short-term gains. One of the biggest factors that could aid in Pi’s recovery is the potential listing on Binance. Additionally, the overall crypto market sentiment remains strong, which could further support a price rebound for Pi Coin. While fundamentals still favor Bitcoin in the long run, Pi Coin’s current technical setup makes it one to watch in April. If momentum builds, Pi could become one of the top-performing assets of the month, at least temporarily, before facing its next major resistance level.