Pi Network (PI) price surges, breaking key resistance zones to touch a new high

The Pi Network price has shot up sharply over the past 48 hours, breaking through key resistance zones to touch a local high near $0.77. This breakout follows a prolonged period of low volatility and consolidation, hinting at renewed trader interest in the token.

As of writing, the Pi Network price today is still holding most of its recent gains, trading hands at around $0.736 after a minor pullback from intraday highs.

On the 4-hour chart, a textbook breakout above the $0.60-$0.65 supply zone, supported by high volume and a confirmed break of descending resistance, marks a major shift in Pi Network price action. This breakout also saw the token reclaiming levels last seen before April's breakdown.

Relative Strength Index (RSI) on the 30-minute chart has cooled off slightly to 70.71 after briefly peaking above 80, indicating overbought conditions. Meanwhile, the MACD histogram is contracting and showing early signs of bearish divergence, hinting that upward momentum may slow unless bulls retake $0.77 quickly.

On the daily timeframe, the Pi Network price recently tagged the 0.786 Fibonacci retracement level at $0.737, a zone that often acts as significant resistance. A clean break above $0.74-$0.77 could open the door toward $0.80 and potentially $0.93 (1.618 Fib extension). Conversely, failure to hold above the $0.70-$0.72 region could see price retrace back toward $0.67 or even the $0.63-$0.61 consolidation base.

Why Is Pi Network Price Going Up Today?

The current Pi Network price spike can largely be attributed to a breakout from a multi-week triangle formation seen on the 4-hour chart. This pattern had been compressing since mid-April, and the sudden upward breach came as volume surged and bulls defended the $0.58-$0.60 support zone.

Price then quickly sliced through multiple EMAs and short-term resistance lines, leaving limited supply zones before the $0.77 area.

Also notable is the bullish Stochastic RSI on the 4-hour chart, with both %K and %D lines crossing into overbought territory. This reinforces the bullish bias, although it may signal an upcoming cool-down phase or consolidation around $0.73-$0.75 before another leg up.

What to Expect From Pi Network Price in the Next 24 Hours

With the Pi Network price today showing signs of hesitation as it approaches resistance, expect a consolidation range between $0.72 and $0.76 in the short term.

If bulls can hold the higher low structure and continue to defend the breakout trendline, the next breakout attempt could see price rally toward $0.80 or higher.

On the other hand, a drop below $0.70 could invite a deeper correction toward the $0.67 support level.