Pi Network Surges 12% Amid Fed Rate Decision

Coin WorldThursday, May 8, 2025 5:46 am ET
1min read

Pi Network has recently experienced a significant price surge, with its value increasing by 12% within a 24-hour period. This rally briefly pushed the price to $0.65 during intra-day trading, although it subsequently retreated to $0.61. Despite this upward movement, the altcoin continues to face challenges in breaking out of its consolidation phase, as weak investor sentiment persists.

One potential catalyst for a more substantial rally is an upcoming ecosystem announcement scheduled for May 14. This announcement could provide positive news that might trigger a more sustained price increase. However, the overall market sentiment remains cautious, with little to no interest from the broader market over the past month. This lack of enthusiasm has hindered Pi Network’s ability to achieve a sustained price increase, despite some bullish tendencies in the market following the US Federal Reserve’s decision to keep interest rates unchanged.

The overall macro momentum of Pi Network shows mixed signals. The MACD (Moving Average Convergence Divergence) indicator exhibits slight bullishness, with small green bars in the histogram. This suggests some positive momentum, but it is not strong enough to trigger a significant rally. The market’s broader bullish cues are preventing a bearish crossover, helping to keep Pi Network’s price afloat despite investor hesitation. However, the lack of strong bullish signals from the MACD means that Pi Network is still struggling to gain significant upward traction.

Pi Network’s price grew by 12% over the last 24 hours, briefly reaching $0.65 before falling back to $0.61. This uptick was fueled by broader market bullishness following the US Federal Reserve’s decision to keep interest rates unchanged. However, the altcoin has struggled to maintain its gains, indicating a lack of strong support from investors to push the price higher. Pi Network continues to consolidate, stuck between $0.61 and $0.57. This ongoing range-bound movement suggests that the altcoin lacks sufficient momentum to break out of its consolidation phase. The price will likely continue moving within this range unless both market and investor support are bolstered, which remains uncertain at this point.

On the other hand, Pi Network could invalidate the bearish outlook if it secures $0.61 as support and begins to rise towards $0.71. Successfully breaching $0.71 could instill confidence in investors, potentially triggering a more substantial rally. However, without a clear shift in sentiment, the price may continue to struggle. The upcoming ecosystem announcement on May 14 could be a pivotal moment for Pi Network, offering the potential for positive news that could drive investor interest and support a more sustained price increase.