Pi Network Soars 100%—Is This the Start of a New Crypto Rally or Just Another Pump?
Pi Network’s price just doubled overnight—again. The ’mobile mining’ project that skeptics wrote off as vaporware is making hedge funds blush with its latest vertical move.
What’s driving the surge? Speculation about mainnet progress, as usual. The Pi core team’s vague roadmap updates have historically triggered these parabolic jumps, followed by brutal corrections when deliverables get delayed (again).
Key levels to watch: If PI holds above $314—its previous all-time high from the 2023 hype cycle—traders might fuel another leg up. But with zero real-world utility and exchange listings still stuck in ’IOU’ purgatory, this smells like another classic crypto pump. Remember: 100% gains are thrilling until you’re the one holding the bag.
As Bitcoin price gains strength, the altcoins are also rising with flying colors. Pi Network tops the leaderboard of gainers with over 56% gains in the past 24 hours, with a 100% jump in the past couple of days. The price continues to maintain a steep upswing and marks highs above $1.67 in the early trading hours, which suggests a new ATH could be on the horizon.
The Pi Price has been consistently rising after rising from the horizontal consolidation around $0.55, which attracted massive liquidity onto the token. Just before the weekly close, the token initiated a strong upswing, which attracted over 100% gains after surpassing the threshold below $0.8. The current trade setup suggests the PI price is expected to attract more gains, which could push the token up by another 100% in the next few days.
But the question arises whether the Pi price can sustain above the gains or face another bearish pullback below $1.
The daily chart of Pi price suggests the bulls have broken out and are aiming to reclaim the lost levels above $1.7, which could clear the path towards $2. Meanwhile, the technicians point towards a short-term correction as the RSI has entered the overbought range for the first time since its inception. Moreover, the CMF, which was surging, has displayed a bearish divergence, indicating a halt in the money FLOW onto the platform. The drop in buying pressure could hinder the progress of the rally, preventing it from surpassing the resistance zone between $1.71 and $1.77, which is the final threshold before the highs.
As the RSI has reached 87.83, which indicates a possibility of a pullback after it surges above 90. Therefore, it suggests the PI price could eventually enter the price range or may even reach $1.8. The token may consolidate for a while around the range and rise above $2. Once the Pi price secures above this range, a new ATH above $3 could follow in the next couple of days. The price may rise to as high as $3.8 and if the bulls hold the Pi Network price rally above the range, the bull run may extend to $5 or even higher.
