Pi Network Integrates Chainlink, Price Recovers 87.5%

The Pi Network has recently integrated with Chainlink, a move that has generated significant optimism among investors and analysts. This integration allows the Pi cryptocurrency and its network to access Chainlink's data ecosystem, providing real-time price data and enabling various use cases. The development is seen as a bullish indicator for Pi coin, as it enhances the ecosystem's functionality and interoperability.

According to the announcement, 22 new data feeds have been added to the Pi Network's ecosystem. This integration is part of Chainlink's ecosystem initiative and will enable the Chainlink ecosystem with new features. For instance, this will give the decentralized Oracle network real-time data and prices for these 22 coins. As such, Chainlink DApps can now provide accurate Pi price and other valuable data. Additionally, Chainlink can also use this integration to facilitate smart contracts or even blockchain gaming on these 22 networks.

The integration with Chainlink presents several benefits for the Pi Network. It allows the Pi network to be safely connected to any other blockchain supported by the Chainlink decentralized oracle network. Moreover, Pi can now be used in various smart contracts and can also integrate its token into several decentralized apps. This, in turn, will enable features like lending, staking, and yielding, which are supported by web3 financial services. As Chainlink represents one of the giants of the crypto industry, this integration will increase Pi Network’s legitimacy and popularity. As this token goes mainstream, the Pi price prediction also shows bullish movements ahead.

Based on the recent price action, the Pi network price has been recovering after it plunged to a bottom near $0.40. The 1-hour Pi Network/USDT chart also shows that the Pi had gotten out of a downtrend. Now this coin is consolidating around the $0.75 price point. Additionally, buyers are now gaining dominance over the market as green candles show higher trading volume. Moreover, the Relative Strength Index also showed a bullish 58.28 result. This score is under 70, the start of the overbought zone, and is above half a point, indicating bullish momentum.

The RSI moving average also shows an uptrend, which signals an upcoming breakout. However, the ADX shows that the trend strength has declined after the first days of the rally. But if ADX climbs to 30 again while accompanying steady rising price action, it signals rising bull control. If Pi keeps trading above the $0.75 price point, it could create solid support on this level. Using this support, the Pi network price could start a new rally and break through the $0.80 resistance. When this level has been broken, the bullish momentum will increase, possibly sending Pi to $1.

In addition to the Chainlink integration, Pi Network has also enhanced its accessibility by integrating Banxa's payment solutions. This allows users to purchase Pi coins directly using fiat currencies, simplifying the process and making it more accessible to a wider audience. This move is expected to increase the adoption of Pi coin and contribute to its growth.

While the bullish Pi news supports the bullish price prediction, it is crucial to consider the powerful effect of macroeconomic factors. If an overly bearish development, such as the escalation of a trade war, occurs, the Pi price could crash. Therefore, it is very important to stay updated on the market and economic news.