- Pi Network is showing signs of recovery with a 5.2% price increase to $0.61 and a 6.9% rise in trading volume, supported by bullish technical indicators like RSI and MACD.
- With potential catalysts including a major exchange listing and an upcoming speech by the founder, analysts predict PI could reach $2.02 by the end of May.
After a challenging April, Pi Network (PI) appears to be regaining strength. Currently trading at $0.61, the cryptocurrency has seen a 5.2% price increase in the last 24 hours, coupled with a 6.9% spike in trading volume, pushing it to $139.4 million. These metrics point to renewed interest and participation in the market—potential signs that bulls may be staging a comeback.
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Indicators Signal a Possible Rebound
Technical indicators are offering promising signs of a trend reversal. The Relative Strength Index (RSI) now sits at 42.7, just above the oversold threshold. This indicates that selling pressure is starting to ease, potentially opening the door for a stronger upward move.
One of the most encouraging signs is from the MACD (Moving Average Convergence Divergence), which has turned bullish for the first time in weeks. The 12-day EMA has crossed above the 26-day EMA, a classic signal of growing momentum. Historically, such crossovers have often preceded price rallies.
Meanwhile, Bollinger Bands are tightening, reflecting low volatility and often foreshadowing a breakout. If bulls can push PI beyond the current resistance at $0.65, the next key level to watch would be $0.70.
Stabilization and Future Catalysts
PI has entered a consolidation range between $0.60 and $0.65, balancing buyer and seller momentum. The Average Directional Index (ADX) stands at 36.82, confirming a strong trend despite a slight weakening from recent highs. Additionally, the Money Flow Index (MFI) hovers around neutral territory, suggesting balanced market sentiment.
Beyond the charts, supply and roadmap developments will play a pivotal role. While only 6.7 billion tokens are in circulation out of a 100 billion maximum supply, around 1.5 billion tokens are set to be unlocked over the next year, potentially introducing downward pressure unless matched by demand.
However, fundamental catalysts are on the horizon. Over 12 million users have migrated to Pi’s mainnet, and founder Nicolas Kokkalis is expected to speak at Consensus 2025 this month. Rumors of a major exchange listing could further boost sentiment.
Despite recent bearish sentiment, market analysis platform CoinCodex forecasts PI could surge to $2.02 by the end of May—a potential 227% increase from current levels.
With bullish indicators aligning and market interest returning, May could prove pivotal for Pi Network’s trajectory.
ALSO READ:Pi Network Battles Bearish Trends: Will May 2025 Mark a Turning Point?
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