#MarketBottomPrediction

Large Pi Coin outflows raise concerns!
The recent decline in the price of Pi Coin was due to a correction in the global crypto market, with Bitcoin falling sharply to $80k. Perhaps many in the Pi community believe that this is not the only reason behind the price drop.
Some traders suspect that a large outflow from the Pi Core Team (PCT) Wallet played a role in the decline. On March 7, around 90 million Pi tokens were moved from the wallet, followed by another 36.4 million tokens the next day. Since this move coincided with the price drop, it led to speculation that the team may be selling the tokens.
Upcoming token openings
Looking ahead, Pi Network is set to unlock a significant number of tokens over the course of the next month. The biggest locks are scheduled to be unlocked on March 17 and March 21, while more than 23 million Pi Coins will enter the market on each of these days.
In total, around 282 million Pi tokens worth around $390.93 million will be unlocked in the next 30 days. This increase in supply can create selling pressure, making it difficult for the price to recover in the short term
The main resistance level to watch for Pi Coin
According to analysts, despite the recent decline, technical indicators point to a possible rebound. Market analyst Rose emphasized that Pi Coin is currently consolidating and testing an important Fibonacci retracement level. If it rises above $2, it could be a bullish reversal.
The first resistance levels to watch are between $2 and $2.60. If Pi Coin manages to break above this range, it could move towards $3.00 and eventually $3.60. However, strong buying momentum will be needed for this to happen. As of now, Pi Coin price is hovering around $1.4, reflecting a 10% drop seen in the last 24 hours. Pi Network's market capitalization has fallen to nearly $10 billion.
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