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How High Can PI Price Go This Month?
- Pi Network's price is showing signs of a potential breakout after a period of decline.
- The daily chart indicates a current price of around $0.6083 with a strong daily gain of +9.57%.
- Short-term resistance levels at $0.65 to $0.71 could pose challenges for further upward movement.
- A Fibonacci retracement suggests a longer-term upside target around $1.19 if bullish momentum continues.
- On the hourly chart, PI price has rebounded from a flash crash below $0.52 and is now trading around $0.6241.
- The formation of a golden cross on the hourly chart indicates short-term bullish momentum.
- A breakout above $0.60 on the hourly chart could lead to a retest of the upper resistance around $0.633.
- If PI price closes above $0.65, it may target $1 with potential short-term and mid-term targets at $0.70 and $1.00 respectively.
- PI has a history of rapid rallies, and a move towards $1 is plausible if trading volume and market conditions support it.
- However, PI is still trading below major daily moving averages, indicating a bearish macro trend.
- Potential risks include a drop towards $0.55 or $0.50 if bulls fail to hold above $0.60.
- If PI price sustains above $0.65, a move towards $0.90–$1.00 is likely in June, with further targets at $1.20–$1.50.
- Key resistance levels at $0.60 to $0.63 need to be maintained for bullish momentum.
- Pi Network's resurgence is contingent on breaking past key resistance levels such as $0.71 to retest the $1 mark.
- The article concludes by emphasizing the importance of key support levels for PI to continue its bullish trajectory.
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