TLDR
- Pi Network (PI) price reached $1.28, up 35% in 24 hours and 114% over the past week
- Trading volume spiked to over $1.4 billion, a 152.8% increase
- Community sentiment is highly bullish with 88% positive rating
- Technical indicators show overbought conditions but strong momentum
- Pi Network team expected to announce a major update on May 14
Pi Network has broken through the psychological $1 barrier for the first time in nearly two months, marking a dramatic reversal after weeks of accumulation. The cryptocurrency is currently trading at $1.28, representing a 35% gain in the past 24 hours and an impressive 114% increase over the past week.
This sharp upward movement follows an extended period of sideways trading, with PI hovering around $0.75 on May 9 before the breakout began. The token had previously bottomed out near $0.40 in April, meaning current prices represent a 220% recovery from recent lows.
Trading volume has surged alongside the price, reaching over $1.4 billion in the past 24 hours. This 152.8% increase in volume suggests strong buyer interest and momentum behind the rally.
Despite the current gains, Pi remains 57.3% below its all-time high of $2.99 set on February 26, indicating potential room for further upside if the current trend continues.
Technical Picture Supports Bullish Outlook
From a technical analysis perspective, Pi has clearly broken out of its accumulation phase with strong momentum. The price has climbed above all key moving averages, including the 10-day, 20-day, and 50-day EMAs and SMAs.
The Relative Strength Index (RSI) currently reads 85, putting the token in overbought territory. However, during strong trends, assets can maintain overbought conditions for extended periods without immediate corrections.
The Moving Average Convergence/Divergence (MACD) indicator has crossed into bullish territory, with the MACD line (blue) positioned above the signal line (orange) and entering the positive zone for the first time in this cycle.
These technical signals collectively support a continued upward trajectory as long as Pi maintains its position above key support levels.
Community Sentiment Remains Strongly Positive
Market sentiment for Pi Network is overwhelmingly positive, with community sentiment tools showing an 88% bullish rating. This high level of optimism typically precedes continued price appreciation, especially when backed by increasing trading volumes.
The rally appears to be driven by multiple factors beyond mere price speculation. The Pi Network team is scheduled to announce a major update on May 14, creating anticipation throughout the community.
This timing aligns with the upcoming Consensus 2025 Summit, where Pi’s founder is set to speak, potentially revealing new developments or partnerships.
What’s Next for Pi Network?
If buyers continue to dominate and the price consolidates above $1.20, the next target could be the psychological resistance at $1.50, followed by a potential retest of the $2 mark.
A short-term pullback remains possible given the overbought RSI readings. If Pi drops below the $1.12 support level, it may revisit the $0.85-$0.90 range. However, the overall uptrend would remain intact unless prices break below $0.75 with high volume.
In the lead-up to the Consensus event, traders and large entities have been accumulating PI tokens, including platforms like BANXA. Market rumors of a possible Binance listing following a community vote where 86% supported the move have added fuel to the rally, though these remain unconfirmed.
According to crypto analyst Dr. Altcoin, the current price action may only be the beginning. In an April 27 post, he suggested that Pi’s rally might gain real momentum during the Consensus 2025 Summit, rather than waiting until late August when token unlock pressure is expected to ease.
Pi is doing well! I am fairly confident that the price pumping of Pi might start during the Consensus Summit (May 14–16, 2025) rather than at the end of August when Pi unlocking significantly reduces. pic.twitter.com/iaSDGzqwYa
— Dr Altcoin (@Dr_Picoin) April 27, 2025
The resistance level visible on the 1-day chart aligns with the RSI-predicted corrective phase, suggesting Pi may briefly decline from current levels before resuming its bullish trend toward the $2 region.
The rally to this level depends on continued investor buying, which appears well-supported by the token’s overall bullish sentiment and technical picture.
For now, Pi Network has successfully broken out of its extended accumulation phase, and all eyes are on the upcoming May 14 announcement and Consensus 2025 Summit for signs of what might come next.
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