• PI price is on the rise! It jumped 13.57% to $1.97, and its market cap is now a hefty $13.83B.
• Keep an eye on the $2.20 resistance level – breaking through could send PI towards $2.50 and even $2.80!

Exciting news for Pi Network (PI) watchers! Over the last day, PI has seen a significant climb of 13.57%, pushing its price up to $1.97. Not only that, but its market capitalization has also grown by 14.48%, hitting a whopping $13.83 billion! The buzz around PI is strong, with a robust 24-hour trading volume of $899.24 million, showing a 3.67% increase in activity. The market cap ratio, according to sources, is currently at 6.49%, which really underscores the lively trading happening right now.

Right now, Pi Network (PI) is testing some key price points. It’s bumping up against resistance around $2.20, and if it can push past that, the next major hurdle seems to be at $2.50. If PI can conquer these resistance levels, we might see it climb towards $2.80 – that’s the upside potential traders are watching! On the flip side, if things take a turn, there’s a support level around $1.75, with a stronger safety net at $1.50. Dropping below that $1.75 mark could unfortunately open the door for further price decreases.

Will PI Keep Going Up?

Let’s dive into the technicals! The Relative Strength Index (RSI) is currently at 56.38, which suggests we’re in a pretty balanced, maybe slightly bullish phase. Looking at the RSI average line, it sits at 46.17, and the fact that it’s lower than the current RSI hints that buying interest is picking up. If the RSI can break past 60, that could be a signal for even more upward momentum for PI. However, if it dips below 40, that could be a warning sign of potential weakness.

The moving averages are also giving off bullish vibes. The short-term moving average has just crossed above the longer-term one – traders call this a bullish crossover! This generally means that buying power is gaining strength. As long as that short-term average stays above the current level, we could see the price continue its upward journey.

Now, what could change things? A “death cross” is a pattern to watch out for – that’s when the short-term moving average dips below the long-term moving average. If that happens, it could signal a shift in momentum and potentially trigger a sell-off. But for now, we aren’t seeing that pattern, which keeps the bullish outlook in play.

The Chaikin Money Flow (CMF) is currently at 0.09, which indicates that money is flowing into PI – always a good sign! If the CMF can climb above 0.10, that would be even stronger confirmation of buying pressure. On the other hand, a drop below 0.00 could suggest that sellers are starting to take control.

So, what’s the roadmap for PI? If it can break through that $2.20 resistance, the next targets to watch are $2.50 and then $2.80. However, if it gets rejected at $2.20, we might see a pullback towards $1.75. And if selling really picks up, the price could slide down to $1.50 before finding stability. If the momentum cools off a bit, we might see some sideways movement for a while before the next big move.

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