Will Pi Token (PI) Surge Beyond $0.9? Check out the Analysis!

Jakarta, Pintu News – Pi Token (PI) seems to be reversing its downward trend on the price chart. In the past four days, the token has seen an increase of 20%. Although the trading volume has also increased, it is still not comparable to the volume recorded a week ago, when Pi Token (PI) surged 114% in six days.

Bitcoin (BTC) Effect on Pi Token (PI)

Data from Coinalyze shows that bullish conviction in the short term is not very high. Prices rose 14% in the last 24 hours and Open Interest increased by 17%. This is a positive sign indicating that speculative traders may be willing to go long due to the bullish short-term performance.

Nonetheless, the funding rate is only slightly above zero. This data suggests that short-term expectations are bullish, but not overheated. These expectations may be supported by Bitcoin (BTC) attempting to set a new record high.

Read More: Bitcoin Sets New Price Records: What Are the Implications for the Crypto Market?

Technical Analysis of Pi Token (PI)

On the 1-day chart, Pi Token (PI) has returned below the 78.6% Fibonacci retracement level plotted based on the rally to $1.6 earlier this month. This rally managed to break the $0.745 local high from April, which turned the market structure bullish. However, the sudden rally and the subsequent retracement suggest that the bullish momentum on the 1-day timeframe is not strong. MACD is above the zero line, but the red histogram bars are the result of a quick retracement.

Possibility of Pi Token (PI) to Surpass $0.9

The bulls’ ability to defend the $0.8 retracement level was in doubt, but these concerns were short-lived. Currently, Pi Token (PI) is trading above that level again, and it may continue to rise.

On the 4-hour chart, there is a local resistance zone at $0.9 which is a bearish order block on the H4 timeframe, marked in red. The volume indicator, which was previously bullish on the 1-day timeframe, is now neutral on the 4-hour chart. Neither the CMF nor the A/D line shows increased buying pressure. In fact, the MACD is yet to form a bullish crossover above the zero line.

Conclusion

Unless there is a surge in demand in the short term, Pi Token (PI) may struggle to surpass $0.9. However, if it manages to cross $0.9 and buying pressure increases, this could be a good buying opportunity.

Read More: Bitcoin and Dogecoin Set New Price Records Amid Crypto Market Trends

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*Disclaimer

This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Crypto trading activities are subject to high risk and volatility, always do your own research and use cold hard cash before investing. All activities of buying andselling Bitcoin and other crypto asset investments are the responsibility of the reader.

Reference

• AMB Crypto. Examining Pi Token’s Volatility: Can Bitcoin Help It Break Past $0.9? Accessed on May 22, 2025
• Featured Image: CoinPedia