PI token’s current price is $39.86 in the PI/USDT pair, which is up 0.13% in the past 24 hours. The token has been consolidating in a narrow range of $38 to $40 showing limited volatility
Currently traders are on the lookout for bullish breakouts or bearish breakdowns as the technical indicators are inclined in both directions.
Price Action Remains Stable with Mild Volatility
Pi token’s daily price prediction shows less movement, with a slight upward trend. The highest price was recorded to be $39.99 for the day while the recorded lowest price was around $38.51.
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However, the changes are mild and PI has been oscillating in the $38-$40 range, which indicates consolidation. The daily candlestick is green, suggesting a small movement up from the open price. PI remains trapped within a tight range near its low price.
This may indicate indecision with traders waiting for a clear breakout. This could indicate that the token’s next major move is approaching, though the direction remains unclear.
MACD Shows Bearish Momentum Despite Neutral RSI
The MACD indicator hints at a rather weak bearish sentiment as of the time of writing. The MACD line of 0.979476 is below the signal line 1.673773.
However, the bearish momentum is weak, and the distance between the MACD and the signal line is small. RSI is neutral at the moment as it stands at 50.80. It is neither overbought nor oversold, indicating that the market is undecided about the next price direction.
Traders Look for Key Levels as Breakout Awaits
As the consolidation period for PI continues, the traders are focusing on key support and resistance levels. Getting a breakout above the $40 could act as the first signal indicating the onset of an upward trend and the next key level of resistance at $42.
However, a drop below $38 could lead to additional declines, with potential support near $37. The technical indicators suggest that Pi’s price action could remain range-bound until a stronger catalyst drives the price out of its current consolidation phase.
Traders are likely awaiting stronger signals, given low bearish signals from the MACD indicator but a neutral RSI reading.
Pi Token IOU Trades on HTX Despite Project’s Warnings
Although Pi Network’s official token has not yet launched, IOUs representing the token’s price are being traded on exchanges such as HTX and BitMart.
The Pi Network team has clarified that these listings are unofficial and not endorsed by the project. Yet, the trading goes on. PI token’s IOU price increased by 80% in October to a level touching $50 a key resistance level.
The $50 level has been acting as a major resistance level for more than a year. Should the price rise above this level, a considerable upside movement is expected because the level has been the subject of several attempts to be breached and has failed.
Analysts Predict Pi’s Future Price Potential
Opinion on the future price of Pi is still rather divided among market analysts. Others believe the token could trade at $73 by the end of 2025 and $98 by the end of 2030 depending on the growth rate.
There has been only positivity on social media regarding the token, with all these prognoses that Pi could be at much higher levels with some pointing to $314,159. For now, traders and investors will have to keep an eye on the technical factors in the market.
