Pi Network Debuts. PI Domain: The Key to the Breakthrough of Pi Coin?

After the launch of Pi domains, Pi dropped by 17% in 24 hours to $1.12 per token.
The development team noted in a lengthy blog that .pi domains were designed to leverage the popularity of the Pi network and integrate blockchain technologies with traditional websites.
To purchase these domains at the auction, PI tokens are required.
The Pi blockchain will register these names, and Pi can be used to pay for transactions in e-commerce businesses that use Pi domains.
Pi domains expand the application of the PI token and its value proposition.
PI Supports $1.05 — Can it Recover?
The trading volume of PI has increased by 63% in the last 24 hours, but the token is still 62.7% below its all-time high of $3 from February 26.
According to CoinCodex, PI is the 11th most valuable cryptocurrency with a market capitalization of $7.76 billion.
Since February 26, the first deadline for transferring the token to the mainnet, PI has sharply declined.
The last few lower highs have become resistance at the levels of $2, $1.8, and $1.5.
On Monday evening, the PI token fell from $1.35 to $1.2 within a few hours, accelerating the decline. However, the momentum indicators indicate a resuming negative momentum.
The Relative Strength Index (RSI) has temporarily risen above oversold levels but has not yet crossed the signal line, while the MACD remains negative.
If the price falls below $1.05, there will be no additional support levels in PI. Any recovery in the next few hours will establish a technical situation with a double bottom, which is a bullish signal.