Pi Network's Price Surges 9% Amid Market Optimism

Pi Network's price surged by over 9% today, sparking optimism among investors about a potential rally. Analysts predict that the price of Pi could reach the $3 mark by June, driven by renewed investor confidence and minimal token unlocks this week. The price has fluctuated between $0.5361 and $0.6133 recently, reflecting volatility amidst market recovery. The total Pi token unlocks projected for the next 30 days are valued at nearly $94 million, making supply management a critical concern. Despite this, market optimism remains robust as adoption grows and investors anticipate a bullish turnaround.

The recent recovery in the crypto market has positively impacted Pi Network. The coin's price rose over 9%, trading near $0.58. Although its 24-hour volume dropped by 37% to $298.5 million, investor optimism persists. The current rally is primarily driven by low Pi Coin unlocks and increasing market confidence. According to PiScan data, 1.5 million tokens will be unlocked through April 11, with a significant 160.74 million tokens expected over the next 30 days.

Crypto analysts forecast that Pi Coin could hit $3 by June, assuming favorable developments from the Pi Core Team, including a possible token burn. This could mitigate concerns around supply flooding. While some experts support this outlook, others caution that the Pi price might dip to $0.30 if bears take control. Despite the mixed outlook, the crypto market's buzz around Pi Network continues. With major unlocks on the horizon and speculation of announcements from the Core Team, investors are closely monitoring the situation. If positive triggers align, Pi Coin may break past resistance and move closer to the anticipated $3 milestone.

On April 6, Pi Coin started the day under strong bearish pressure. A death cross pushed the price down, with the coin hitting support at $0.5361 around 3:35 UTC. However, signs of recovery emerged when a golden cross appeared on the MACD at 7:20 UTC, causing a brief upward move. The price tested resistance at $0.6133 but failed to break it. A new death cross quickly followed, pushing the price into a downward channel that lasted throughout the day. As the downtrend held strong, confirmed by another death cross, the bearish momentum continued into April 8, beginning with oversold signals at midnight. A golden cross at 10:50 UTC gave a short-lived boost, but the trend remained negative. A final death cross at 4:30 UTC and a bearish divergence on the RSI at 7:10 UTC reinforced the downward pressure. If this trend continues, Pi Coin could fall below the key support of $0.5361 and test the $0.5200–$0.5000 range. However, a trend reversal might push the price above $0.6133, targeting $0.6200 or more in the short term.

While the $3 Pi Coin target by June is an ambitious long-term prediction, short-term movement depends on current trends. As seen in the recent analysis, Pi price may drop to $0.5000 if bearish pressure continues. However, a reversal could push it above $0.6133. The crypto market remains volatile, and Pi Network’s future will rely on timely updates and market sentiment. Investors should watch key levels closely as the Pi price navigates within this uncertain crypto market landscape.