- Pi Network price jumps, breaking resistance and sparking bullish momentum.
- Analyst sees AI and Web3 fueling Pi’s long-term growth.
- Falling wedge pattern hints at potential surge toward $1.30 soon.
Pi Network’s price has risen by 10 percent in the past 24 hours, moving above a key resistance level and trading at $0.40. According to @cin365x, this development could signal the beginning of a trend reversal with the potential for a rally toward $0.53.
The cryptocurrency’s present bullish trend follows a long bearish trend that started following its debut on the exchange, where it hit an all-time high of $2.98. The value was severely affected by a major market correction of 86 percent, which raised concerns among investors.
However, the analysts have now pointed to the development of a bullish falling wedge pattern on the chart, which is usually the precursor to a breakout.
Should this breakout be realized, early price targets would be between $0.60 and $0.70, with a potential of going to $1.20 or even $1.30 mid-term. The support is still at the range of $0.25 to $0.30, but the price might go down initially before any upward spike.
Source: @cin365x
Also Read: XRP Analyst Sets $11.61 as Ideal Bull Cycle Target
Expert Highlights AI and Web3 Potential
Crypto analyst Dr. Altcoin addressed the market outlook when asked about a potential drop to $0.10. He stated that he would buy more Pi, expressing confidence in the project’s long-term prospects.
His optimism is based on the fact that Web3 technology has been integrated with artificial intelligence and some of the ecosystem’s strengths.
These include built-in KYC and KYB compliance, environmentally friendly mining, and use in more than 200 countries and 70 million users. In addition, Pi enables peer-to-peer payments, collaboration with fiat-to-Pi services in more than 100 countries, and the availability of 170-plus payment options.
It also has its AI App Studio initiative that is supporting over 20,000 decentralized applications developed by Pioneers that can be integrated in the future.
The Pi Core Team is also said to be managing the high coin supply, which has been a restricting factor in the price increase.
In conjunction with the increasing technical indicators and stable ecosystem growth, the market activity indicates that the token can experience further rise.
Conclusion
The recent price breakout above $0.40 has sparked renewed interest in Pi Network. While volatility remains possible, technical setups and ecosystem progress are drawing increased attention from both traders and long-term supporters.
Also Read: XRP Futures Surge as Market Interest Soars Past Solana
