Coinspeaker
Pi Network Debuts 2FA for Enhanced Security: Will PI Break $2?
Pi Network (PI) has announced the rollout of two-factor authentication (2FA) and aims to strengthen the blockchain network’s ecosystem. The new feature will now drive the users of the network to migrate their PI tokens to the mainnet blockchain.
The implementation of 2FA aims to bolster security by verifying wallet ownership through a trusted email address, ensuring safer transactions and reducing fraud risks.
The process involves the users of the network linking their verified email address. Only users who have this verification, including tentative KYC, will be allowed to create the trusted email.
The trusted email will be used for key security functions, such as account recovery and wallet confirmations.
Once a trusted email is added, Pioneers will receive prompts after mining sessions or through email notifications to complete the 2FA setup.
The Pi Network community appreciated the move from the developers, satisfying the longstanding concerns regarding security vulnerabilities.
PI Price Moves
The PI token has faced significant selling pressure over the past week, experiencing a 23% decline.
With its market capitalization now below $7.74 billion, the token has slipped from the 11th to the 17th spot among cryptocurrencies, according to CoinMarketCap data.
PI’s 15-minute chart reveals a symmetrical triangle pattern, which is a classic indicator of an impending breakout.
If the cryptocurrency manages to breach the key resistance level at $1.20, bullish momentum could push prices toward the $1.25–$1.30 range. Increased buyer interest and strong volume support may fuel further gains.
On the bearish side, failure to break above resistance could see the altcoin testing support at $1.10.
A drop below this level might trigger further declines to $1.05 or even $1.02, especially given the upcoming release of 129 million Pi coins (worth approximately $175 million).
Large token unlocks typically push prices lower, and investors are now fearing that the altcoin might plummet below $1.
PI Price Analysis
The PI 4-hour chart shows that the Relative Strength Index (RSI) reads a value of 28.90, indicating oversold conditions. Historically, such low RSI levels suggest that a rebound could be on the horizon if buying interest picks up.
Additionally, Bollinger Bands (BB) show that the price is near the lower Band support ($1.03), signaling potential upward movement towards the middle Band ($1.28). However, any failure to gain traction could extend the bearish trend.
Despite the security upgrade, PI price continues to face uncertainty due to its limited exchange availability. The Pi Network community has long anticipated a Binance listing, but the exchange has yet to confirm any plans to list the altcoin.
Pi Network Debuts 2FA for Enhanced Security: Will PI Break $2?
