Pi Network Defies Gravity: 86% Weekly Surge Locks In $1 Support—What’s the Next Target?

Pi Network just pulled off a jaw-dropping rally—up 86% in a week—and now $1 looks like a floor, not a ceiling. Traders who dismissed it as ’play money’ are scrambling for explanations (and positions).

The breakout no one saw coming

While blue-chip cryptos flatlined, Pi Network’s token staged a vertical climb, leaving skeptics choking on dust. The move wasn’t just bullish—it was borderline irrational, the kind that makes Wall Street quant funds mutter about ’market inefficiencies.’

What’s fueling the frenzy?

Speculation’s running wild: Mainnet hype? Exchange listings? Or just crypto’s eternal appetite for underdogs? Meanwhile, the usual suspects—Telegram groups, influencer shills—are working overtime to claim credit.

The $1 question

With the token now consolidating above its newfound support, the real test begins. Can Pi Network turn a dead-cat bounce into a sustained uptrend? Or will it join the graveyard of ’revolutionary’ projects that couldn’t outrun their own vaporware stench?

One thing’s certain: In a market where even meme coins get second acts, never underestimate the power of hopium—and the desperation of bagholders waiting for their ’generational wealth’ moment.

Pi Network Has Room For Growth

The Relative Strength Index (RSI) for Pi Network has surged above the 70.0 threshold, entering the overbought zone. This indicates that the bullish momentum is saturating, which historically signals a potential reversal. 

Overbought conditions often lead to market corrections as the overheated market cools down and investors tend to book profits. However, it’s important to note that some assets remain in the overbought zone for extended periods without a drop. If PI faces similar conditions, it may be SAFE from a sharp drawdown in price.

Looking at the broader momentum, the Chaikin Money FLOW (CMF) indicator for Pi Network is well above the zero line, signaling strong inflows. While the CMF has shown a dip recently, this is not expected to persist for long, especially given the market’s strength. 

While short-term fluctuations may occur, the overall market sentiment, bolstered by the positive CMF reading, suggests that Pi Network’s bullish momentum is still intact. This can potentially sustain its upward movement, provided the broader market conditions continue to favor crypto assets.

PI Price Exhibits Strength

Pi Network’s price is currently at $1.09, up 86% over the past seven days, with strong support at the $1.00 level. This psychological support point is crucial for the altcoin’s future performance.

While the indicators present mixed signals, the likelihood of PI falling below $1.00 seems low. If it manages to hold above this level, Pi Network could continue its upward momentum toward the $1.34 target, aiming for $1.64. This is possible only if the current bullish momentum persists for the coming days.

However, if Pi Network faces significant selling pressure from investors, the altcoin could lose its $1.00 support. A drop below this critical level WOULD push PI towards $0.87 or $0.78, invalidating the bullish outlook and signaling a potential downturn for the altcoin.