The price of the distinctive symbol of the PI network has increased dramatically, via the $ 1 sign, with the encrypted currencies of the 1 layer such as Avalanche (Avax), Litecoin (LTC), and Bitcoin Cash (BCH), among other things, in the market value.
This meteor rise, which is fueled by 68 % in one day and an increase of 163 % during the past week, pushed the market value of the PI network exceeding $ 11 billion, which obtained its location as the largest encrypted currency.
Trading volumes rose to more than $ 1.5 billion, which reflects the interest and liquidity in the intense market, while the code price reached at $ 1.66 on Peter before settling near $ 1.50 at the time of the press.
It is worth noting that this gathering follows the post -flying period, when the PI network rose to $ 3.41, but it decreased by 85 % to its lowest level ever at $ 0.40 in April.
PI network price analysis
From the point of view of technical analysis, the price of the PI network erupted from the standardization stage, climbing from $ 0.73 to the top of $ 1.30, and has already exceeded critical resistance at $ 1.40.
This penetration was previously formed a higher decrease at $ 0.75 on May 8, followed by a decisive step over the resistance of $ 0.75 on May 9, which accelerates the upward momentum.
Technical indicators support the bullish trend, with the RSI Index (RSI) at 87 and the average rapprochement/moving (MacD) that appears increasing, although the excessive RSI timing state in its assumption indicates a possible decrease in the short term.
The level of $ 1.40, which is the horizontal and horizontal resistance Fibonacci, is axis; If the distinctive symbol remains above it, we can see an attempt to it, and it may challenge the highest level ever at $ 3.41.
On the contrary, failure in a breach of $ 1.40 may lead to a re -decline to the levels at $ 1.12 or 0.85 dollars – $ 0.90, while the upper trend remains intact unless the price is less than $ 0.75.
The increase in trading volume, an increase of 600 % to more than 1.5 billion dollars, confirms the market conviction in this gathering, while the ability of the distinctive symbol to turn the ice breakdown, Litecoin, and the cash bitcoin highlight the increasing protrusion.
Will the price of PI continue to rise, or will it fall?
The current PI Price gathering moves through the convergence of the accumulation of whales, the developments of the ecosystem, and speculative enthusiasm, as large entities transmit millions of distinctive PI symbols of stock exchanges and retail investors before the main events.
Next summit of consensus 2025, where there is the founder of PI SpeakingAnd The main announcement from the Pi Core team on May 14 They feed optimism, as investors expect that these stimuli can pay the price up.
In addition, speculation about the potential Binance menu, which is enhanced by community support and common test transactions, has increased the purchase pressure, although the list is still unconfirmed.
However, the risks waved on the horizon, including the excessive RSI in the peak, which indicate a possible correction, and the possibility of exhibition pressures from the distinctive future symbol, given that only 7.07 billion of 100 billion is traded.
If the price of the distinctive symbol of the PI merges more than $ 1.40 and penetrates 1.50 dollars, it may target $ 2.00, but the failure to do this may lead to a decrease, especially if that profit is followed.
Ultimately, the long -term symbol course depends on the growth and benefit of its ecological ecosystem in the real world, which will determine whether this gathering represents the beginning of the continuous adoption or the peak of speculation.
The price of the distinctive POST PI network is approaching $ 2, as it turned off the main coins 1 first appeared on Invezz
