Exciting news for Pi Network! The price has jumped over 4% in the last day after they released their Migration Roadmap. While there are hints of a price recovery according to some indicators, it’s still too early to say for sure if a real uptrend is starting.

Even though technical signals like the Ichimoku Cloud and RSI suggest a potential price rebound, Pi Network still faces significant resistance that’s making a clear breakout difficult. Adding to the uncertainty, many in the Pi community are expressing frustration because the new Migration Roadmap lacks clarity, leaving them wondering about the future price direction.

Users Frustated Over Lack Of Details

Pi Network recently unveiled its Mainnet Migration Roadmap, but it seems to have left the community wanting more. Many users are feeling frustrated by the lack of specific dates and clear details. The roadmap outlines a three-phase plan, but without any timelines, it’s creating a lot of uncertainty. To make matters worse, some users have reported seeing discrepancies in their coin balances and are unsure how to resolve these issues.

Furthermore, the claim that all Pi tokens were created right from the start (at genesis) is causing quite a debate, and some are starting to question the project’s transparency. With a significant 108.9 million tokens becoming unlocked this month, users are understandably unsure about how this migration process will actually play out. These issues are definitely impacting the community’s trust in Pi Network.

Pi Network Still Faces Resistance

Currently, Pi Network is trading just below the Ichimoku Cloud, which is acting as a key resistance level. This suggests that buyers are trying to drive the price higher. While we’ve seen some higher lows forming, hinting at a possible recovery, the price hasn’t yet managed to break through this resistance.

Also, the overall market isn’t showing strong bullish momentum right now, indicating that short-term price movements are weaker compared to the longer-term trend. This makes it an unclear signal for buying, and traders are understandably being cautious, waiting for more convincing signs before making any major investments.

What’s also interesting is that the Ichimoku Cloud is becoming thicker and more angled, which often means we could see some bigger price swings soon. If Pi does manage to break above this cloud, it could be a strong signal of an upward trend. However, until that happens, Pi remains in a somewhat risky position, and there’s still a chance of the price being pushed back down.

Looking at the Relative Strength Index (RSI), we can see that Pi Network’s RSI has bounced back from 32.34 to 53.77, which initially looked like a sign of recovery. However, after reaching a peak of 57.25, it’s slightly dropped again, weakening the bullish momentum. The RSI is currently in neutral-to-slightly bullish territory, indicating some strength but still quite a way from overbought levels. If momentum picks up again, there’s potential for growth, but it’s still wise to be cautious as the trend isn’t firmly established yet.

Key Resistance Levels

Currently, Pi Network (PI) is testing a critical resistance point at $0.66. If it manages to break through, we could see the price climb towards $0.789 and then potentially $0.858, which might bring back stronger bullish momentum. A really successful breakout could even propel PI towards $1.23 or even $1.79. However, the community’s frustration with the unclear Migration Roadmap is adding to the uncertainty. If PI fails to break through the $0.66 resistance, we could see a pullback towards $0.54 or even $0.40.

The next few trading sessions are going to be really important for deciding where Pi’s price goes next. It’s all going to depend on both the technical signals and how the community is feeling, as we wait to see if there’s a clear breakout upwards, or a drop in price.

Focus on Consensus 2025 Next

With Consensus 2025 just around the corner, there’s growing excitement within the Pi Network community. Analyst Dr Altcoin points out that this event is a huge opportunity to showcase Pi Network, especially with Pi founder Nicolas Kokkalis scheduled to appear alongside notable figures like Bo Hines and Eric Trump.

Game Changer for Pi Coin?

Dr. Altcoin believes Consensus 2025 could be a real turning point for Pi Network, but only if the Pi Core Team acts quickly. He’s strongly recommending they approve all pending KYB applications and officially launch Decentralized Applications (DApps) within the Pi ecosystem before the event. This, he argues, would maximize their opportunity to shine on the global stage and significantly boost Pi’s credibility and growth potential.

The Pi Core Team has less than a month to get those KYB approvals and DApp launches done before Consensus 2025, especially since delays have reportedly pushed some projects towards other blockchains. Currently, Pi is trading around $0.64, but looking ahead to these potential developments and the possibility of adoption by larger institutions, some are optimistic that it could even reach $30. However, it’s important to remember that short-term price swings are still a significant factor to consider.