Pi Network Token Stages Comeback—Traders Eye $1 Surge Amid Crypto Rollercoaster

After months of sideways action, Pi Network’s token is flashing green—and speculators are piling in. The once-dormant project now rides a wave of renewed interest, with derivatives data showing leveraged bets on a breakout.

Can it actually hit $1? True believers point to the project’s 35M+ ’engaged users’ (whatever that means). Skeptics counter with the oldest crypto adage: ’Price pumps without utility are just greater fools recruiting drives.’

Meanwhile, hedge funds quietly short it through offshore brokers—because nothing says ’Web3 revolution’ like betting against retail traders with your Cayman Islands LLC.

PI’s Quiet Accumulation Phase Could Trigger a Rally

BeInCrypto’s assessment of the PI/USD one-day chart suggests that the altcoin may be preparing for a bullish breakout. For example, its on-balance volume (OBV) has spiked over the past two days, showing early signs of accumulation.

The OBV indicator uses trading volume to predict price movements, adding volume on up days and subtracting it on down days. When its value rises like this, it suggests a surge in buying pressure. 

OBV is considered a leading indicator, meaning it often moves ahead of price action and can signal shifts in market sentiment before they are reflected in the asset’s price. Therefore, PI’s rising OBV indicates that buyers are quietly accumulating the token, even as its price remains subdued. 

This divergence signals that bullish momentum is building, increasing the likelihood of a PI breakout once broader market sentiment aligns.

Furthermore, the red bars forming PI’s BBTrend indicator have gradually shrunk. This reduction suggests that selling pressure is weakening, serving as an early signal that the current downtrend may be losing steam. 

In technical analysis, a contraction in the BBTrend histogram is a precursor to a potential trend reversal, especially when accompanied by rising volume and other bullish indicators. 

As the bars shorten, it indicates that volatility is stabilizing in the PI market and that a bullish shift in price is increasingly likely.

PI for Reversal as Bullish Signals Point to $1 Breakout

PI currently trades at $0.591, resting below its descending trend line, which forms resistance above it at $0.605. If bullish pressure strengthens and PI demand rockets, it could flip this price point into a support floor and climb toward $1.01.

On the other hand, if selloffs persist, the PI token could revisit its all-time low of $0.40.