Pi Network Price Surges 20% to Trade at $0.7508, PI Coin Becomes No.1 Trending Crypto

The Pi Network price has surged 20% in the last 24 hours to trade at $0.7508 as of 9:03 p.m. EST

The Pi Network (PI) price showed signs of recovery on Friday, surging 20% in the last 24 hours to trade at $0.7508 by 9:03 p.m. EST.

The surge was also accompanied by a 203% increase in trading volume to $673 million.

The surge saw PI coin become the No.1 trending crypto on CoinMarketCap.

Pi Network Price Gearing Up For A Bullish Reversal

The PI Coin price has been on a prolonged downtrend since reaching its peak around the $3.00 level.

After a sharp selloff, the Pi Network price found a temporary bottom near $0.51, from where it has begun to recover modestly.

The price of Pi Network now stands at approximately $0.75, and this recovery has brought the price to the 0.786 Fibonacci retracement level, a region that often acts as significant resistance during corrective rallies.

The 50-day Simple Moving Average (SMA), currently around $0.76, is also being tested, further reinforcing this zone as a critical decision point for price action.

Meanwhile, the Relative Strength Index (RSI) is at 57.21, climbing out of the oversold territory. The RSI reading indicates that buyers are returning, albeit cautiously.

The MACD (Moving Average Convergence Divergence) shows a crossover with the blue MACD line at 0.0335, now above the orange signal line at -0.0211, marking the beginning of a potential bullish phase. Moreover, the histogram has turned positive, hinting at increasing momentum.

PI/USDT Chart Analysis (Tradingview)

PI Coin Price Prediction

Given the current positioning near the 0.786 Fibonacci level and the 50-day SMA, the Pi Network price is at a pivotal technical junction.

If bulls can push the price of PI above $0.76 with convincing volume and close above it consistently, the next potential resistance lies around the $1.21 level (the 0.618 Fib). Beyond that, price targets include $1.55 and $1.90, representing the 0.5 and 0.382 Fib retracement levels, respectively.

However, failure to break above the $0.76 mark could cause the PI price to retrace back toward the $0.60 or even $0.50 range, especially if momentum indicators start to flatten or reverse.

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