Pi Network Price Prediction: Bullish Technicals Suggest an Upcoming $100
Examine the reasons why the Pi Network pricing will rise above $100 in the coming weeks due to technicals and the excitement surrounding the mainnet debut.
Key Takeaways:
- At $50, the price of Pi Network has found solid support.
- According to technical analysis, the currency may shortly rise above $100.
- First, it must break through the resistance level of $91.
After plummeting precipitously in the first two days of the week due to Bitcoin’s comeback surge, cryptocurrency values gradually recovered. In the last two days, the price of Pi Network has also increased significantly, and certain altcoins have made a huge recovery. According to technical analysis, the price of Pi Network may reach $100 this year if the excitement and momentum around the impending mainnet launch continue.
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Pi Network Price Analysis: Patterns on the Chart Suggest a $100 Move
In November, the price of Pi coins surged to $100 due to the increased anticipation of the mainnet debut. It subsequently pulled back, wiping off most of those gains; it hit rock bottom at $45; and in the month’s last week, it recovered to $91.60.
A return to $100 is not completely out of the question, according to the technical analysis. The upward trendline connecting the lowest swings since October this year has been consistently surpassed by Pi Network. Bears are wary of shorting below that price since it has created multiple false breaks below it.
Additionally, Pi Network’s price has maintained a level above the EMA of 100 days. Attempts to break below that level have also been unsuccessful, suggesting that there are still some bulls in the market.
Additionally, the significant S&R pivot point of the Murrey Math Lines has provided support for the price of pi coins. Hence, if the current crypto bull run persists, the token’s value can potentially reach $100.
If it breaks through many resistance levels, it will confirm more advances to $100. The poor S&R level and this month’s high of $70 both necessitate its movement above. Additionally, the coin must increase in value beyond its November 23 high of $91.60 in order to be considered a success. The Murrey Math Lines’ high overrun level is likewise at this price. If the price of Bitcoin keeps going up, it will also go up.
The bullish outlook will be rendered worthless and additional downside will be indicated by a decline below the 100-day moving average and the ascending trendline.
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The Launch of Pi Coin’s Mainnet Will Serve as the Spark
Launch of the mainnet, expected either this month or in early January, will be the primary driver of the price surge for the Pi Network to $100.
Once the Pi Network’s mainnet launch occurs, users will be able to transfer their tokens to money and the network will exit its present confined mainnet. It will also unlock applications built during the private mainnet period.
This mainnet launch is going to happen because of the community and devs’ hard work. First of all, they have begun conversations with exchanges, launched PiFest events to support their ecosystem, and verified the identity of millions of pioneers.
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FAQs
Can the price of Pi Network reach $100?
The Pi Network token may indeed rise and reach the crucial resistance level at $100, according to technical analysis.
To what extent may the Pi token rise?
The price of Pi Network will rise, maybe reaching $100. The coin may then rise and hit its highest level of the year, $110, if this occurs.
What is going to be the driving force behind this Pi coin rally?
The excitement surrounding the impending mainnet launch and the current cryptocurrency boom will be the primary drivers of the Pi Network rally.
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