Technical Outlook: Will PI Reach $1?

As per CoinMarketCap data, PI is trading at $0.5940, up 1.40% in the past 24 hours. The cryptocurrency’s trading volume shot up a massive 55.75%, suggesting increasing buying pressure from investors.

Analyzing the 4H chart below, it is clear that the immediate resistance lies at $0.6485 (0.786 Fib), followed by $0.6848 (1.618). The $0.7434 (2.618) and $0.8020 (3.618) levels are further resistance zones.

Also, the $0.8382 (4.236) level represents a possible overextension zone—likely where $1 could be tested if sentiment surges.

On the other hand, the RSI currently stands around 46.63, showing a neutral zone, recovering from oversold conditions near April 29. A bullish divergence formed as price made a lower low while RSI made a higher low.

The MACD indicator shows that the blue MACD line is slightly above the orange signal line, suggesting an emerging bullish crossover, but momentum remains weak. A strong upward MACD histogram would be needed to confirm sustained bullish sentiment.

It is important to note that a successful retest and breakout above $0.6485 and $0.6848 could attract bullish volume, pushing the price to $0.80 and $1. However, failure to break above $0.6485 could cause the price to revisit support near $0.55.