Pi Network: The Path to $2 Requires More Than Hype
Pi Network (PI) recently fell from a high of $1.67 (May 12) to $0.66, a sharp 60% drop. It has now stabilized near $0.79. The current market cap stands at $5.72B, with a 24-hour trading volume of $344M.
Technically, PI is trading between its 20-day EMA ($0.78) and 200-day EMA ($0.85), signaling indecision. The RSI is around 53.84 — neutral but slightly leaning bullish.
Some analysts predict a short-term move up to $0.947, about a 33% rise. But for PI to hit $2, it needs to break major resistance zones at $1.00 and $1.20. That will require more than just community excitement — sustained user adoption, utility within the Pi ecosystem, and broader bullish sentiment in the crypto market will all be critical.
The price structure remains volatile. While it has bottomed short-term, any rally to $2 will likely be a long-term effort. Bulls need volume and fundamentals to align before the market shifts from speculation to solid conviction.
#PiNetwork #CryptoUpdate
Not financial advice.
