Pi Coin Surges 35% to $1.05, Breaking Key Resistance

Pi Coin has experienced a significant price surge, currently trading around $1.05, marking a 35% increase over the past 48 hours. This rally was driven by a breakout from a multi-week accumulation zone between $0.59 and $0.74, as observed on the 4-hour and 30-minute charts. The bullish momentum was confirmed by a strong breakout candle on May 11, which surpassed the psychological and technical resistance at $1.00.

This recent price spike is the first time in months that Pi Coin has crossed above the $1.00 mark with volume confirmation. The on-chain price momentum, fueled by aggressive short-term buyers, is pushing the coin into new territory. Technical indicators suggest that the rally may continue, despite the current overbought conditions on lower timeframes. The 30-minute chart shows an RSI above 78, indicating overbought territory, but the MACD displays a healthy bullish crossover with a widening histogram, suggesting that upward momentum has not yet peaked.

The 4-hour chart confirms a decisive trend reversal, with candles closing consistently above all major EMAs (20, 50, 100, and 200). The Bollinger Bands have expanded significantly, and the price is currently riding the upper band, indicating trending behavior rather than random volatility. This confirms that the recent price increase is due to the reactivation of a breakout setup that had been forming for over two weeks. After a series of higher lows, Pi Coin finally broke its diagonal resistance at around $0.80 and continued to rise.

Using Fibonacci retracement from the recent move, the 1.618 extension level is at $1.0549, which Pi Coin has already reached intraday. If buyers can maintain this level, the next upside target is near the 2.618 level at $1.16, followed by $1.27 in case of a high-volume breakout continuation. However, traders should also be prepared for a possible retracement. Immediate support is located around $0.96–$0.98, which aligns with the prior breakout structure. A dip to these levels would still maintain the bullish structure unless the price collapses below the $0.87–$0.89 region.

The recent volatility in Pi Coin's price has increased dramatically, as indicated by expanding Bollinger Bands and surging volumes. This volatility is expected to remain elevated over the next 24–48 hours as bulls and bears battle around the key $1.00 psychological mark. Heading into May 12, traders should watch for Pi Coin closing above $1.05 with sustained volume, which would likely continue the rally toward $1.16 and beyond. A retracement to $0.96 may offer a healthy re-entry opportunity if the uptrend structure remains intact. The RSI must cool off slightly on the 1-hour and 4-hour charts to avoid a short-term correction, and the MACD needs to maintain its bullish crossover to keep the upside momentum alive.

The market structure remains bullish, and Pi Coin has re-entered a powerful price discovery zone not seen since Q1 2024. Traders should be cautious of volatility but optimistic about short-term bullish continuation unless the asset loses $0.89 support. The current price is above key resistance, with support levels at $0.96 and $0.89, and resistance levels at $1.16 and $1.27. The RSI is overbought, and the MACD shows a bullish crossover, with expanding Bollinger Bands indicating high price volatility. The trend bias is bullish, favoring the upside.