Breaking: $PI Surges to $3 Before Retracing Amidst Market Dip

The cryptocurrency market witnessed a surprising move as Pi Network (PI) surged past its all-time high of $2.70, reaching an impressive $3 before a sharp retracement brought it back to $2.21. This remarkable 70% surge caught traders and investors off guard, demonstrating the unpredictable nature of the crypto space.

Technical Analysis
At the time of writing, PI remains up 38.59%, with technical indicators showing a mix of bullish and corrective signals.

The 1-hour RSI sits at 59.47, indicating that buying pressure remains present but is gradually slowing down. The psychological $2 resistance zone has now been decisively broken, which could turn into a new support level. A potential retracement to $1.60, the ceiling of the bullish symmetrical triangle, may occur before another major upward push.

While the initial rally was explosive, the decline in buying momentum suggests a temporary cooldown before the next leg up.

If PI can hold above $2, it could establish a solid foundation for another attempt at higher price levels. However, if selling pressure continues, the $1.60 level will be a critical area to watch for a rebound.

What’s Next for PI?
If bullish momentum returns, PI could attempt to reclaim the $3 level and push toward new highs. However, if the price continues to decline, $1.60 will serve as a crucial support level before another breakout attempt. Traders should monitor RSI trends, volume shifts, and key resistance zones** for further confirmation of the next move.

With the $2 psychological barrier now broken, PI’s price action in the coming days will be crucial in determining whether this was a one-time event or the beginning of a sustained bullish trend.