Pi Network (PI) surged 80% in a week – Will the bullish trend continue?

Pi Network (PI) has made a remarkable comeback after hitting a historic low of $0.40 on April 5. In the context of the cryptocurrency market rebounding over the past week, this altcoin has attracted strong interest from investors, leading to an impressive price increase of up to 84% from its recent low.

With the recovery momentum being reinforced and the bulls gaining an upper hand, PI is likely to continue maintaining an upward trend in the short term.

PI recovers from the crash with clear bullish signals

The MACD indicator ( Moving Average Convergence Divergence ) of PI has just emitted an optimistic signal. On the daily chart, the green MACD line ( has crossed above the orange signal line ) on April 5 – a sign that market momentum is shifting positively, right after the price hit a low at the $0.40 level.

The MACD indicator of PI | Source: TradingViewAt the same time, the histogram bars – which show the intensity of momentum – have also been continuously expanding in recent days, indicating a significant increase in buying pressure for this altcoin.

When the MACD establishes a crossover like this, it is often a signal indicating that a bullish trend is forming, with the bulls gradually gaining control. The PI recording the MACD crossover moving upwards further reinforces the short-term bullish outlook as buying pressure continues to increase.

Not only that, the Balance of Power indicator (BoP) of PI is also reflecting strong buying demand. As of the time of writing, the BoP index reached a level of 0.52 – a positive figure.

Balance of Power Indicator (BoP) of PI | Source: TradingViewThe BoP indicator helps measure the relative strength between buyers and sellers in the market. When this index maintains a positive value, it indicates that the bulls are in control and have the potential to push prices higher.

Is the $1 level within reach?

The recent strong recovery has pushed the price of PI to move within an upward parallel channel – a typical technical pattern for an uptrend. This structure forms when the price continuously oscillates within the range between two upward-sloping parallel trend lines, reflecting a gradual shift in control towards the buyers.

This pattern often signals a stable upward trend, although short-term corrections may still occur. If the upward momentum continues to be maintained, PI could very well reach the price range of $0.95 in the near future.

Daily PI/USDT Chart | Source: TradingViewConversely, if the current trend weakens and bullish momentum breaks, PI risks sharply reversing towards the support area around the $0.40 mark.

You can see the price of PI here.

Disclaimer: This article is for informational purposes only and is not investment advice. Investors should do their own research before making decisions. We are not responsible for your investment decisions.

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