Can PI Go Up Again? Understanding the Current Bullish Sentiment

Over the past few weeks, PI Coin (Pi Network’s native token) has seen a remarkable rise, reigniting conversations within the Pi Network community and beyond. 

With a major ecosystem announcement scheduled for May 14, market watchers are asking one important question—can PI go up again? Recent indicators suggest optimism, but understanding what drives this momentum is essential before drawing conclusions.

What is PI Coin and Pi Network?

Pi Network is a digital currency project aiming to make cryptocurrency mining accessible to the average smartphone user. Unlike traditional mining systems that rely on powerful hardware, Pi Network allows users to mine coins directly from their phones using a unique consensus mechanism. 

PI Coin, the native asset of this ecosystem, is designed to be used for transactions, rewards, and eventually as a medium of exchange within Pi’s planned decentralized marketplace.

Though still in its development stages and yet to be fully listed on major exchanges, PI Coin continues to gain attention due to its strong community base and ambitious roadmap. Its price movements, while speculative, are heavily influenced by internal updates and investor sentiment.

Read also: Why Did Pi Coin Surge? Unpacking the Rally and What Lies Ahead

Why Is PI Coin Rising Now?

Over the past month, PI Coin has surged by more than 51%, with a staggering 92% increase just in the past week. This rise is closely tied to the anticipation surrounding an upcoming ecosystem update set for May 14. 

Historically, similar updates have triggered notable price movements for PI, often resulting in rallies as investors expect enhancements that could improve utility and adoption.

At present, PI is trading in a critical supply zone. This area usually sees selling pressure, but recent activity suggests otherwise. Instead of declining, the price has remained steady, indicating that bullish sentiment may be overpowering the usual resistance. 

Traders appear hesitant to sell, viewing this range as an opportunity to accumulate rather than exit.

Technical Insights: Signs of Strength with Caution

From a technical standpoint, PI's upward trend is supported by the Average Directional Index (ADX), which tracks the strength of a price trend. Both PI’s price and the ADX are currently moving upward, indicating strong market momentum.

However, it’s not without cautionary signals. The Relative Strength Index (RSI) has entered the overbought territory, meaning the coin may be overvalued in the short term. 

When RSI reaches this zone, assets typically consolidate or retrace before making their next move. This could lead to a short pause in the rally or a minor correction before another upward push.

A green long-legged doji—an indicator of indecision—has also formed on the chart. This suggests that while buyers are interested, some market participants remain cautious. Still, if the bulls continue to push, PI could break past the resistance and aim for new highs.

Read also: Can Pi Coin Survive Its Bearish Pressure? Looking at the Current Sentiment

How High Can PI Go?

Two potential price targets are currently in sight:

• A 49% rise from current levels could take PI to $1.82.
• A broader rally could push PI to $3, representing a 146% increase from where it stands.

However, if the price fails to hold its ground, it could fall back to a demand zone just below the $1 mark. This zone will be crucial for maintaining the current bullish outlook. 

A breakdown to this level would likely dampen short-term optimism but not necessarily the long-term vision of the Pi Network.

Community Sentiment: Bullish with a Hint of Caution

Community support remains strong. Recent data shows that 89.5% of investors are still willing to buy PI Coin, reinforcing the idea that belief in the project’s potential remains high. This optimism has often been a self-fulfilling driver of price, especially in emerging crypto ecosystems.

That said, there is a slight shift compared to past enthusiasm. As PI approaches key resistance levels, some early buyers may be choosing to take profits. This mixed behavior is typical in markets driven by retail sentiment and upcoming news events.

Interested in crypto trading? You can directly buy selected assets on Bitrue by registering here! You can also check the latest price updates and find more interesting articles here!

Frequently Asked Questions (FAQ)

Q: What is PI Coin?
A: PI Coin is the native cryptocurrency of the Pi Network, a project that enables users to mine crypto on their smartphones.

Q: How much is 1 pi worth now? 
A: Right now, 1 Pi is worth about $1.19.

Q: Can pi reach $100? 
A: It's possible by 2030 if more people use it and it becomes useful in everyday life.

Q: Is pi coin a good investment? 
A: It could be, but its success this year depends on them launching their main network and finding real uses for it.

Q: Can I sell my Pi coins? 
A: Yes, once it's listed on an exchange, you can sell it like other cryptocurrencies and then withdraw the money or trade it for other coins.

Q: Is pi Coin like Bitcoin? 
A: Bitcoin uses a lot of computing power to verify transactions, but Pi Network uses a different method similar to how Stellar works.