Pi Network’s PI Price Breaks New ATH – Correction Ahead?

In the past 24 hours, PI, the native token of Pi Network, has skyrocketed 54.4%, hitting a new all-time high of $3. This unexpected surge has sparked excitement among traders, with some predicting it could soon reach $4. But is this just the beginning of a bigger rally, or is a sharp correction lurking around the corner?

While the momentum looks strong, key technical indicators suggest the market might be overheating. Could PI push even higher, or is it about to face a reality check?

Let’s dive into the data and find out.

PI’s Price Journey Since Launch

On February 20, PI was trading at just $0.1008. That day, it skyrocketed 765.87%, peaking at $2.208 before early investors took profits, causing a 17.55% dip the next day.

Between February 22 and 25, PI gained 121.94%, though it couldn’t surpass its February 20 peak. Then, on February 26, the token surged 76.01%, finally breaking past its previous high and reaching $3. 

DMI Indicator Shows Strong Uptrend

The Directional Movement Index indicator on the four-hour chart of Pi Network shows that the ADX value of the market stands at 59, +DI at 36.88 and -DI at 5.92. The indicator suggests that the market is currently supported by a very strong uptrend. 

DMI is a technical indicator used in crypto trading to measure trend strength and direction. It consists of three primary components: Average Directional Index (which measures the strength of a trend), Positive Directional Index (which shows buying pressure) and Negative Directional Index (which shows selling pressure).  

BBTrend Signals Possible Reversal

The BBTrend indicator on PI’s two-day chart currently sits at -9.1491, a sharp drop from its February 24 reading above 50.

This indicator tracks price movement relative to Bollinger Bands. A sudden drop suggests that PI may be overextended, which often leads to a correction or consolidation.

The Bollinger Bands on PI’s two-day chart highlight key levels:

• Upper Band: $3.1846
• Baseline: $2.1894
• Lower Band: $1.1936

Currently, PI is trading at $2.5799, close to the upper resistance zone.

• Also Read :
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Key Price Levels: What to Watch Next in Pi Network?

Experts predict that if the PI market continues its strong upward momentum and breaks above the $3.5 psychological barrier, it could reach a new peak of $4.

However, experts warn that if the BBTrend technical signal materialises into the PI market price action, it could push the price of PI to a low of $1.7. 

Experts also add that if the market experiences strong downward pressure, the PI price could even slip to a low of $0.79. 

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