The price of PI, the native token of Pi Network, has seen a significant increase of 54.4% in the last 24 hours. It even reached a new all-time high of $3, and some experts predict that it could reach $4 in the near future. However, there are indications that a sharp correction in the Pi market might occur.
On February 20, the price of PI was around $0.1008. On the first day of the launch, the market experienced a single-day growth of 765.87% and reached a peak of $2.208. The market then experienced a small correction of 17.55% on the second day, possibly due to profit-taking actions by early investors. Although the market recorded a growth of 121.94% between February 22 and 25, it failed to break above the previous all-time high during that period.
Yesterday, the market broke above the previous peak and reached a new all-time high of $3 with a strong single-day growth of 76.01%.
The Directional Movement Index (DMI) indicator on the four-hour chart of Pi Network shows that the market is currently supported by a very strong uptrend. The Average Directional Index (ADX) value stands at 59, the Positive Directional Index (+DI) is at 36.88, and the Negative Directional Index (-DI) is at 5.92.
The BBTrends reading on the two-day chart of Pi Network remains at -9.1491. It was previously above 50 on February 24. This suggests that the Pi network could experience a severe correction or consolidation in the near future.
The Bollinger Band indicator on the two-day chart of PI shows that the upper band of the asset is at $3.1846, the baseline is at $2.1894, and the lower band is at $1.1936. The current price of PI is $2.5799.
Experts predict that if the PI market continues its upward momentum and breaks above the $3.5 psychological barrier, it could reach a new peak of $4. However, they also warn that if the BBTrend technical signal materializes, the price of PI could drop to a low of $1.7. In a strong downward pressure scenario, the price could even slip to a low of $0.79.
In terms of selling PI coin, sources suggest that holders can sell through IOUs on exchanges like “HTX” or through peer-to-peer trades on various exchanges. As for its investment potential, if the bullish sentiment continues, PI coin could reach as high as $80 this year. The recent rise in price is attributed to strong bullish momentum, technical breakout, and increased investor interest, leading to a new all-time high.
Here are some frequently asked questions about Pi Network and PI coin:
1. How to sell Pi coin?
Some sources suggest that Pi coin holders can sell through IOUs on exchanges like “HTX” or through peer-to-peer trades on various exchanges.
2. Is Pi coin a good investment?
If the bullish sentiment sustains, PI coin could reach as high as $80 this year, making it potentially a good investment.
3. Why is Pi Network’s price rising?
The recent surge in Pi Network’s price is attributed to strong bullish momentum, technical breakout, and increased investor interest, which led to a new all-time high of $3.
Note: Investments carry market risks. Please invest carefully. We do not accept responsibility for any financial losses.
