The price of Pi Network is indicating signs of recovering after bouncing back over 80% from its lowest point in April.
This weekend, the Pi coin (PI) surged to a peak of $0.7375 as investors seized the opportunity during the dip. It reached its highest price since March 31, with daily trading volume increasing by more than 80% to exceed $700 million.
The rise in token value coincided with stability in the crypto market amidst ongoing trade uncertainties. Major cryptocurrencies such as Bitcoin (BTC) and Solana (SOL) rebounded this week, with BTC climbing to $84,000 and Solana reaching $130.
Market observers anticipate that the Federal Reserve may step in as the economy adjusts to tariffs imposed by Donald Trump. Boston Fed President Susan Collins stated that the bank is ready to act to bolster the economy.
The price of Pi Network picked up as investors bought in following a steep decline of over 86% from its peak in February. Many saw this downturn as a purchasing opportunity.
There’s growing optimism that several prominent tier-1 exchanges might list the coin later this year, with Binance being the most likely candidate, as its community members had given a nod to its listing back in February.
Other prospective exchanges that could add the coin include Coinbase, Kraken, and Upbit. These platforms are looking to capture some of the trading fees currently being collected by exchanges like OKX and MEXC.
An additional potential driver for a rebound in Pi coin’s price is the introduction of burning. This mechanism would help mitigate the effects of ongoing token unlocks and mining rewards.
Pi Network Price Analysis
The 4-hour chart indicates that the PI coin price has rallied in recent weeks, reaching an important resistance level at $0.7385. This increase followed the formation of a falling wedge pattern from February until earlier this month.
Pi Network has also broken above the 50-period moving average, which is a favorable indication. Furthermore, leading oscillators like the Relative Strength Index and the Awesome Oscillator have shown upward trends, signifying growing momentum.
Consequently, it’s probable that the token will keep rising, with bulls eyeing the significant resistance at $1.7365, which marked the highest swing on March 13. A move to this level would represent a 135% increase.
However, there’s also a possibility that the current uptrend could turn out to be a bull trap, as a small rising wedge pattern has formed. Should this scenario unfold, there may be a risk of a drop back to retest support at $0.40.