Pi Network’s price has soared by more than 100% in the last 24 hours, bringing it close to its all-time high (ATH). Following its initial launch, the price dropped sharply to $0.60, leaving early investors with losses. However, the latest rally has reignited interest in the token, with discussions emerging on whether now is the right time to secure profits.
Crypto expert Gem Hunter shared on X that the trading volume for Pi on Gate.io has surpassed that of Bitcoin and Ethereum. The tweet states, “Now $PI is having 6 times more volume than $BTC on Gate io and 3 times more than $ETH “, reflecting an unprecedented surge in activity. Meanwhile, veteran analyst CryptoTA_King described Pi’s rally as “unstoppable,” reinforcing the growing bullish sentiment surrounding the token.
What you'll learn 👉
Technical Analysis: Pi Network Breaks Out from Key Pattern
The price chart of Pi on the 1H timeframe reveals a symmetrical triangle pattern, which preceded the breakout. Initially, the price spiked close to $2.00, followed by a steep decline before stabilizing. Buyers regained control, pushing the price beyond key resistance levels.
The lower trendline of the pattern showed higher lows, indicating strong buying pressure. The upper trendline represented sellers attempting to cap Pi’s price, but the breakout invalidated this resistance. The price has since maintained its upward momentum, suggesting that further gains may be possible.
Key Levels to Watch: Pi Support and Resistance Zones
Pi Network has established strong support at $0.60-$0.70, where the price consolidated before the recent surge. The price breaking above $1.30-$1.50 is important to watch right now. This level will be a key indicator going forward.
Looking up, we’re seeing resistance between $1.70-$2.00. A lot of traders might take their profits in this range. If buying pressure stays strong, we could see the price test its previous all-time high. But if momentum slows down, the price might fall back to around $1.00-$1.20.
Read Also: Here’s Why XRP Price Could Hit $6 Soon
Market Sentiment and Trading Considerations
Trading volume is higher than what we’re seeing in major cryptocurrencies, showing there’s still a lot of interest in Pi Network. Some traders think the price will keep climbing, but others are looking at $1.70-$2.00 as a good place to sell.
The technical signs support this upward move, but we could still see a drop if Pi’s price can’t stay above these key levels. Everyone’s watching to see if Pi can keep up this momentum or if profit-taking will push the price down.
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