Pi Network rallied hard in the past week. How high will it go?
Key Support levels: $1.4, $1
Key Resistance levels: $1.7, $2
In the past week or so, PI’s price has exploded and almost tripled. It went from $0.6 to almost $1.7. A pullback here is likely considering this huge rally in such a short amount of time. If buyers cannot break the resistance at $1.7, then PI may fall to the $1.4 support.
The daily RSI is placing PI at 88 points out of a maximum of 100. This puts Pi Network’s native token in the overbought area. If a correction indeed follows, then the support levels at $1.4 and $1 will be the most likely candidates to stop any future downfall.
One of the reasons PI managed such an impressive rally is that its buy volume went exponential within a few days. Bulls came in force, and such volume was not seen since the price bottomed in early April at $0.4.
Sustaining such a rally over time is hard, therefore it is important to be cautious whenever the volume stops making higher highs.
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