Pi Network Price Flashes 3 Bullish Signals: Analysts

Frank bevah
Updated
Frank bevah

Frank bevah

Market Analyst
Frankbevah is a senior crypto market analyst and stock Journalist with four years of industry experience. He focuses on in-depth market analysis, emerging trends, and real-time developments across cryptocurrency and equity markets.
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Pi Network Price Flashes 3 Bullish Signals: Analysts
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Highlights

  • Pi Network price was trading at the level of $0.12 in spite of poor liquidity and demand.
  • Pi2Day launches added utility through SoloHost, Pi Sign-in, and PiVerify.
  • Analysts monitor $0.12 break, and $0.13 and $0.14 targets are in sight.

Pi Network Price moved close to $0.12 on Saturday as traders reacted to a modest market recovery. The token still traded lower, showing weak demand. Nevertheless, new Pi2Day launches, sentiment improvement, and technical indications brought analysts reasons to expect another attempt to trend up.

Pi Network Price Flashes Bullish Signals

Pi Network Price fell 2.00% to $0.115 in the last 24 hours. Nevertheless, the token remained higher than this week low of $0.1112.

Previously, Pi has reached a high of $0.1176 with sellers coming back to support. The relocation implied short-term demand.

Nonetheless, there is a lack of liquidity in Pi markets. This complicates price movements among most traders.

The broader crypto market increased 1.29% to $2.16 trillion in 24 hours. Bitcoin was trading at more than $62,000, and the Ethereum price was trading at around $1,750.

XRP price also gained 4%. Nevertheless, Pi requires more potent catalysts to prolong its recovery.

Pi2Day Launches an Add Fresh Utility Case for Pi Ecosystem

Pi Network gained attention after the team announced three Pi2Day products. These included SoloHost, Pi Sign-in, and PiVerify.

The launches are crafted to enhance utility in the Pi ecosystem. They also provide more apps and services to developers.

PiVerify attracted attention due to its specialization in identity verification. Some analysts view it as a possible alternative to World ID.

The product could let third-party platforms use Pi’s KYC network. Pi says its verification system has checked millions of users.

SoloHost supports Pi Desktop and Nodes with local AI app hosting. Meanwhile, Pi Sign-in allows users to access third-party apps.

Analysts Watch Pi Price Breakout as Market Sentiment Improves

Market mood was boosted as weak U.S. jobs figures helped risk assets. The economy added 57,000 jobs in June, below expectations.

The unemployment rate eased to 4.2% from 4.3%. This contributed to the renewed purchasing in Bitcoin, Ethereum, XRP, and altcoins.

For Pi, analysts see a short-term upside bias after its latest throwback. Nevertheless, the bigger trend is under the pressure. Any upward clean move more than 0.12 would make the picture better.

Will Pi Network Price Break $0.12 or Face Another Drop?

At the reporting time the Pi coin price traded at 0.1158, 0.69% on the four-hour chart.

The recent descending-channel failure compelled sellers to place pressure on Pi and drive price to the $0.11 support zone. The token subsequently bounced back to some extent, although the momentum was poor beneath the previous support at around $0.12.

The RSI was close to 39.99, indicating that buyers are yet to take firm control. In the meantime, the MACD remained somewhat negative, but the histogram indicated a weak recovery effort.

Pi Network Price Flashes 3 Bullish Signals: Analysts
Source: Tradingview

An upward move above $0.12 could open the next upside target of $0.13. In case of improvement in buying pressure, the future PI outlook may subsequently challenge the higher resistance zone of $0.14.

But the inability to recover $0.12 can continue to press the price down. A drop below $0.11 could expose Pi to deeper losses toward $0.1050 and $0.10.

Investment disclaimer: The content reflects the author's personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
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Frequently Asked Questions (FAQs)

1. What are the bullish signals for Pi Network?

The bullish signals include Pi2Day launches, improving market sentiment, and a possible technical rebound setup.

2. . Why is Pi Network price in focus today?

Pi Network price is in focus because it traded near $0.12 after a modest market recovery and new Pi2Day launches.

Why Trust CoinGape

CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.

PI

Pi Network

$0.11431300 0.37245% (24h)

24 Hours volume

$10.86M

Market Cap

$1.25B

Max Supply

100B

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About Author
About Author
Frankbevah is a senior crypto market analyst and stock Journalist with four years of industry experience. He focuses on in-depth market analysis, emerging trends, and real-time developments across cryptocurrency and equity markets.