Pi Coin (PIUSDT) Surges Over 150% in a Week: Key Levels to Watch

Pi Network's (PI) token has experienced a remarkable surge, increasing by more than 158.85% over the past seven days. According to the latest trading data from Bitget, PIUSDT is currently being traded at $1.53.

The cryptocurrency has quickly gained attention among traders and investors as it continues to rally amid increasing trading volume and overall market interest.

In the past 24 hours alone, Pi Coin has surged by a staggering 60.78%. Prices rebounded rapidly from sub-$1.00 levels to reach a local high of $1.5959 before pulling back slightly to current levels around $1.55. A glance at the 4-hour candlestick chart from Bitget shows a steep vertical ascent, highlighting multiple green candles with growing volume—a clear indication of strong buying interest.

The 4H chart from Bitget.

Key support and resistance levels to consider:

As the price action unfolds, keep an eye on these key support and resistance levels:

• Support: $1.00 (psychological level) and the lower band of Bollinger Bands.

• Resistance: $1.80 (round-numbered psychological level) and the upper band of Bollinger Bands.

Volume spike signals FOMO

Furthermore, the significant increase in volume—31.38M as shown on the chart—might be attributed to the influx of retail traders and possibly institutional investors. Such high trading volume is usually observed during periods of sharp price movements or breakouts and can be followed either by strong continuations or swift corrections.

The U.S. and China have officially slashed tariffs on billions of dollars’ worth of goods for 90 days as both countries’ economies struggle.

The move, which was announced earlier this week, will see tariffs on a vast range of products, from furniture and mattresses to seafood and fruit, being reduced.

The slashing of tariffs comes after months of tension between the two economic superpowers, which began a trade war in 2018.

The tariffs were imposed as part of a broader trade dispute, but both countries have expressed interest in easing tensions in recent months.

The slashing of tariffs is a positive development for both the U.S. and China. For the U.S., it could help to lower consumer prices and boost economic growth.

For China, it could improve access to the U.S. market for its goods and services and ultimately lead to increased exports.

However, the move also has implications for cryptocurrency traders and investors.

Earlier this year, both the U.S. and China cracked down on crypto activity.

The U.S. Securities and Exchange Commission (SEC) filed a lawsuit against Coinbase and, later, went after Binance, the world’s largest cryptocurrency exchange.

Meanwhile, China’s central bank warned that bitcoin is a "typical Ponzi scheme" and ordered financial institutions to halt cryptocurrency-related services.

The move to slash tariffs could be a sign that relations between the two countries are improving, which in turn, might benefit the crypto market.

The slashing of tariffs is also likely to put pressure on other countries to do the same.

If more countries reduce tariffs on each other’s goods, it could lead to a global economic recovery.