- PI surged by 191.54% in a week, reaching a $15.02B market cap, but now consolidates near $2.20 amid declining volume and momentum.
- RSI at 45.25 signals weakened buying pressure, while MACD hints at possible recovery if momentum strengthens above $2.25.
- PI must hold $2.16 support or risk dropping to $2, while a breakout above $2.25 could drive it toward $2.50–$2.75 resistance.
Pi Network (PI) has seen a remarkable price surge, rising over 191.54% in the last seven days. This sharp increase pushed its market cap to $15.02 billion. The rally has been linked to growing speculation about a Binance listing and increasing investor interest. However, market data shows volatility, and analysts are divided on whether the upward trend will continue or face a correction.
Price Trends and Market Volatility
At the time of publication, PI was trading at $2.22, a decline of 7.10% in the past 24 hours. It had a high of $2.2496 and a low of $2.1660 within the same period. PI had an uptrend on February 26, reaching a peak near $3 before pulling back.
The price now consolidates around $2.20, showing signs of indecision in the market. Trading volume is moderate at 3.47 million, but a substantial spike occurred on February 26 during the price surge.
However, recent volume trends indicate declining momentum, suggesting reduced trader conviction. If volume continues decreasing, the market could struggle to sustain the recent gains.
Technical Indicators and Momentum
The RSI is at 45.25, slightly below the neutral 50 mark. This indicates weakened buying pressure.
On February 26, RSI spiked above 70, indicating overbought levels before the price dropped. Although RSI shows signs of stabilization, it has not confirmed a strong recovery. The MACD line is at -0.0264, while the signal line is at -0.0448, with a histogram value of 0.0184.
A recent bearish crossover sent prices lower, but a slight recovery in the histogram suggests momentum is trying to improve. If MACD moves toward positive levels, PI could regain strength.
Support and Resistance Levels
The previous peak of $3 shows strong resistance, as PI struggled to hold that level. The price must break above $2.25 to lead to bullish sentiment, with potential upside targets at $2.50 and $2.75.
However, failure to maintain $2.16 as support could push the price lower, possibly testing $2.00. Despite the recent surge, Bybit CEO Ben Zhou has questioned Pi coin’s network legitimacy, citing concerns over its unverified circulating supply and lack of transparency.
In response, the Pi Network team maintains that its six-year existence and 60 million users validate its credibility. They attribute Mainnet delays to efforts in ensuring ecosystem maturity and security.
