Pi Network price has recorded a massive rally today, soaring more than 22% during writing. Notably, as the crypto hovered near its ATH of $2.10, the market participants are eyeing a new milestone for the crypto ahead. Amid this, the recent market trends and the soaring buzz over the Pi Coin hints at a potential rally to $3.14 ahead.
Pi Network Price Rockets: What Lies Ahead?
Pi Network’s price recorded a surge of nearly 23% today and exchanged hands at $1.91, while its trading volume soared 22% to $826 million. Notably, the crypto has touched a 24-hour high and low of $1.95 and $1.52, respectively. As the crypto nears its ATH, the market enthusiasts eye further gains ahead for the token.
But will Pi sustain its rally, or is a pullback on the horizon? Here’s what’s fueling the surge and what traders can expect next.
What’s Next For PI Coin Price?
Pi Coin value today recently hit $1.95, reflecting a 23% jump. According to Pi enthusiast Dr Picoin on X, key price levels indicate a strong battle between buyers and sellers. The primary resistance level for Pi Network price is at $1.90, while support levels sit at $1.589 and $1.517. If Pi breaks resistance, it could see a further surge.
A bullish trend is evident, as 90% of the community remains optimistic. However, with 99.87% of the sell volume dominated by large holders, profit-taking could slow momentum. The next 24 hours will be crucial, with the price likely consolidating between $1.65 and $1.75 unless a breakout occurs.
Why Is Pi Price Surging?
Pi Network price’s impressive rally is driven by several key factors:
- Massive Trading Volumes: Compared to its initial listing, Pi’s trading volume has surged dramatically, attracting significant capital inflows.
- Exchange Listings Boost Visibility: The coin is now listed on major platforms like OKX, MEXC, Bitget, Gate.io, and Pionex, increasing awareness and accessibility.
- Binance Listing Speculation: Many traders are anticipating an imminent Binance listing, which could propel Pi’s price even higher.
- Technical Breakout: The price chart shows a bullish cup-and-handle formation, a key indicator of further gains.
Can Pi Coin Hit $3.14 Soon?
Crypto analyst Kim H Wong believes Pi Network’s bullish momentum could push it past $2.20, with $3.14 as the next major target. The psychological significance of $3.14, a reference to Pi itself, could act as a magnet for traders.
If trading volume continues surging and a Binance listing materializes, Pi could challenge this level sooner than expected. However, a failure to break resistance at $1.90 may lead to temporary corrections.
Meanwhile, a recent Pi Coin price analysis also indicates a similar sentiment. For context, the analysis showed that if the bullish momentum holds, the crypto is likely to hit the $3 mark soon.
The post Pi Network Price Soars 20%; Rally To $3.14 Imminent? appeared first on CoinGape.
