PI Network Rockets 30% Daily – Is $2 the Next Stop?

PI Network’s token defies gravity with a blistering 30% surge—retail traders pile in as whispers of a mainnet launch grow louder. Can this mobile-mined crypto sustain momentum, or is it just another speculative rocket destined to crash?

Behind the pump: PI’s unconventional distribution model bypasses traditional mining rigs, leveraging smartphone users to validate transactions. Skeptics scoff at its ’free crypto’ premise—until they check the charts.

Key resistance ahead: The $1.80 level held firm during March’s rally. Break that, and the path clears for a run at $2... assuming Wall Street’s algo-traders don’t front-run the retail crowd (again).

PI gains majority of market interest

PI’s recent rally can be traced to the high level of community engagement in the market.

Community Sentiment, a tool on CoinMarketCap, helps determine whether investors are bullish or bearish on an asset.

Source: CoinMarketCap

At press time, PI has a high sentiment score of 88%, indicating that the majority of market participants expect the token to continue rallying. This bullish sentiment is reflected in both price and volume movement.

Following a 30% price surge, trading volume also jumped 155.25% to $597.53 million during the same period.

Source: CoinMarketCap

This marks PI’s highest trading volume in the past thirty days. Historically, a surge in both volume and price tends to indicate strong market momentum, positively impacting price action.

What’s driving market momentum

Technical indicators provide a clearer picture of what to expect from PI.

The Relative Strength Index (RSI), which measures the speed and change of price movements on a scale of 0 to 100, shows that the market is currently overbought.

This is evident as the RSI value stood at 76.13—above the 70 threshold, at press time. This suggested that PI may soon enter a corrective phase with a potential price dip.

Source: TradingView

However, analysis of the Moving Average Convergence and Divergence (MACD) indicator suggests that the correction may be minimal.

This is based on multiple signals: first, the MACD line (blue) remains above the Signal line (orange); additionally, the MACD line has crossed into the positive zone for the first time.

These signs imply that buyers remain active in the market and that any predicted drop is likely a MOVE by investors to trigger lower entry orders before the next upward trend.

Analysis of PI’s path to $2

PI has currently reached a resistance level on the 1-day chart, aligning with the RSI-predicted corrective phase. This suggests that PI may briefly decline from the resistance level before resuming its bullish trend.

Source: TradingView

If the coin successfully reclaims this resistance, it is likely to trend toward the $2 region, the peak of its previously exited descending channel.

The rally to this level depends on continued investor buying, supported by the token’s overall bullish sentiment.