- PI token jumps 47% in 24 hours, pushing its market cap past $10.8 billion
- Bullish MACD and expanding histogram confirm strong upward momentum in PI
- RSI at 88.43 signals overbought zone, suggesting a possible short-term pullback
The Pi Network (PI) has made an impressive surge, attracting strong attention in the crypto market. After trading sideways for some time, PI experienced a sudden price jump, surging over 47% in just 24 hours.
As of press time priced at $1.54, the token has recorded a remarkable 160% gain over the past week. This rally has propelled its market cap to over $10.8 billion, backed by a circulating supply of approximately 7.1 billion tokens. As the momentum builds, traders are now questioning whether PI can maintain this rapid pace or if a correction is due.
Momentum Signals Stay Strong
The recent surge in PI’s price reflects renewed investor interest and confidence. The PI/USDT trading pair on the MEXC exchange showed a sharp rise, with the token reaching as high as $1.56584.
This nearly 39% spike in a single session highlights strong buying pressure. Although the trading volume is not directly visible, large green candles suggest significant activity.
Further confirmation comes from technical indicators. The Moving Average Convergence Divergence (MACD) shows a bullish crossover. The MACD line at 0.09434 is now above the signal line at 0.09415. Additionally, the MACD histogram continues to expand positively, reinforcing the upward trend.
However, the Relative Strength Index (RSI) is now at 88.43. This reading signals an overbought condition, which could lead to short-term price consolidation or a minor pullback.
Key Levels to Watch on May 13
On the upside, immediate resistance lies between $1.66 and $1.70. This is the range of today’s high and may present some hurdles. A break above this level could open the path toward $2.00, a key psychological barrier. Beyond that, $2.50 remains a major target, previously reached during a strong rally.
On the flip side, $1.25 to $1.30 serves as the nearest support zone. If the price drops, this area may help absorb selling pressure. Additional safety nets lie at $1.00 and $0.75, both significant from past trading ranges.
