Pi Network News: Can Pi Coin Price Rally to $10? Experts Weigh in on the Next Big Move

The post Pi Network News: Can Pi Coin Price Rally to $10? Experts Weigh in on the Next Big Move appeared first on Coinpedia Fintech News

In the last 24 hours, the Pi Network market has experienced a growth of 6.2%. During the period, it has outperformed certain top cryptos, such as Bitcoin (+3.4%), Ethereum (+3.7%), XRP (+3.1%), BNB (+4.5%), and Solana (+2.6%). Since its mainnet launch, the PI price has surged by 1,676.68%. During the same period, the crypto market has declined by around 9.9%. This implies that Pi Network has defined the general trend in the cryptocurrency sector. Many expect that the PI market will see massive growth in the coming days. The big question is: How high can the price of PI go?

Why Is PI’s Price Rising?

Since February 20, the PI price has witnessed a rise of 1,676.68%. In the last 24 hours alone, the price has grown by 6.9%. As mentioned earlier, the PI market has defined the general trend of the crypto market. There is no doubt that the market is growing strongly.

What Is Fueling This Growth?

Primarily, Pi Network is nearing its final deadline for users to migrate their holdings. As per a recent blog post, the PI team confirmed that March 17 would be the final deadline to complete the migration procedure. The 24-hour trading volume of PI stands at $777,483,578.

Secondly, many prominent exchanges, including Binance, are likely to list PI. In a community poll, organised by Binance, more than two-third of the respondents voted in favour of the listing.

Thirdly, Donald Trump’s victory in the US election in November reversed the US administration’s approach towards the crypto industry.

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PI Technical Analysis: Is a Breakout Coming?

There was a strong resistance at the $1.75 level in the PI market. Yesterday, the market broke strongly above the resistance. Currently, the price of PI stands at $1.88.

The latest Bollinger Band signal, observed on the four-hour chart of PI, shows that the width between the bands has reduced considerably. This implies that the PI market is likely to witness powerful momentum soon.

It appears that there is a high chance for the PI price to break above the upper band of the indicator. Experts say that if the price breaks above the $1.90 level, the market could rise as high as $2.Notably, the Parabolic SAR indicator also suggests a positive trend shift.

Will PI Hit $10 or Drop Below $1.54?

Experts predict that if the price of PI breaks above the $1.90 level with strong volume, a rally toward $10 could follow.

They warn that if it fails to break the level, selling pressure could pull the price downwards strongly to a low of $1.54.They also point out that bulls must hold support above $1.74 to confirm a bullish breakout.The current price of PI stands at least 1.06% below the key level of $1.90.