Crypto Ahmet
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Bullish
š±ššPI Coin Price Surges to All-Time High as Pi Network Trading Volume Tops $3 Billion
#PiNetwork #pi has experienced a meteoric rise, surging over 70% in the last 24 hours and pushing its market capitalization to an estimated $16 billion.
This surge coincides with a remarkable spike in trading volume, which has surpassed $3 billion. The price of PI briefly reached $2.99 before settling at $2.95, defying broader market trends as Bitcoin and other major cryptocurrencies faced downward pressure.
The sharp rally has been attributed to several factors, including speculation around a potential Binance listing and increasing investor interest in the networkās development. However, technical indicators suggest a highly volatile market, with analysts split on whether PI will sustain its momentum or face a correction.
Technical Indicators Show Mixed Signals
Pi Networkās Directional Movement Index (DMI) highlights a strong uptrend, with the Average Directional Index (ADX) climbing to 57.7 from 12.3 in just one day. The Positive Directional indicator (+DI) has surged to 40.9, while the Negative Directional Indicator (-DI) has dropped to 1.1, confirming the bullish momentum.
Pi Networksās short-term chart (15 minutes) suggests potential pullbacks despite the overall bullish sentiment. Source: ArikMat on TradingView
Despite this, the Bollinger Bands Trend (BBTrend) indicator has turned negative, falling from 51.2 to -11. That indicates the rally could be overextended and that a price correction is more likely to happen. If PI does reverse, important levels to check for support are $1.70, $1.42, and $0.79.
Binance Listing Speculation Drives Hype
One of the primary catalysts behind PIās price surge is speculation surrounding a potential listing on Binance. A recent community poll on the exchange showed that 86% of participants favored listing the token. While Binance has yet to confirm an official decision, a successful listing could further fuel PIās bullish momentum.
#BinanceAlphaAlert #BTCRebundsBack #Binance
#PiNetwork #pi has experienced a meteoric rise, surging over 70% in the last 24 hours and pushing its market capitalization to an estimated $16 billion.
This surge coincides with a remarkable spike in trading volume, which has surpassed $3 billion. The price of PI briefly reached $2.99 before settling at $2.95, defying broader market trends as Bitcoin and other major cryptocurrencies faced downward pressure.
The sharp rally has been attributed to several factors, including speculation around a potential Binance listing and increasing investor interest in the networkās development. However, technical indicators suggest a highly volatile market, with analysts split on whether PI will sustain its momentum or face a correction.
Technical Indicators Show Mixed Signals
Pi Networkās Directional Movement Index (DMI) highlights a strong uptrend, with the Average Directional Index (ADX) climbing to 57.7 from 12.3 in just one day. The Positive Directional indicator (+DI) has surged to 40.9, while the Negative Directional Indicator (-DI) has dropped to 1.1, confirming the bullish momentum.
Pi Networksās short-term chart (15 minutes) suggests potential pullbacks despite the overall bullish sentiment. Source: ArikMat on TradingView
Despite this, the Bollinger Bands Trend (BBTrend) indicator has turned negative, falling from 51.2 to -11. That indicates the rally could be overextended and that a price correction is more likely to happen. If PI does reverse, important levels to check for support are $1.70, $1.42, and $0.79.
Binance Listing Speculation Drives Hype
One of the primary catalysts behind PIās price surge is speculation surrounding a potential listing on Binance. A recent community poll on the exchange showed that 86% of participants favored listing the token. While Binance has yet to confirm an official decision, a successful listing could further fuel PIās bullish momentum.
#BinanceAlphaAlert #BTCRebundsBack #Binance
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