Analysts report Pi Coin (PI) holds potential for a significant price increase if it successfully breaches crucial technical resistance levels. Current technical indicators point to nascent upward momentum that could propel the asset higher, contingent on sustained buying pressure.
The Average Directional Index (ADX) on Pi Coin’s 4-hour chart has strengthened, moving above the mid-20s threshold. This indicates renewed trend strength and supports the case for potential upside. Further reinforcing the tentative bullish signal is the recent crossover where Pi Coin’s 20-period Exponential Moving Average (EMA) moved above the 50-period EMA. This technical event coincided with a price surge taking PI from around $0.45 to approximately $0.52.
However, a definitive confirmation of a strong upward trend requires a decisive 20-period EMA crossover above the 100-period EMA, which analysts note is still pending. The critical resistance zone for Pi Coin is identified at $0.46 to $0.49. Should the cryptocurrency sustain a break above this range, it could trigger a substantial rally, potentially driving the price up by approximately 40% towards the $0.66 target.
Conversely, risks remain. Failure to hold above the $0.46 level, a drop in the ADX below the mid-20s signaling weakening momentum, or a failure of the bullish EMA crossover could precipitate a price retracement towards the $0.42 support area.
Alongside the technical outlook, analysts highlight that improved accessibility could bolster market participation. A recently introduced fiat on-ramp initiative enables easier direct purchase of Pi Coin using traditional currencies. This development potentially increases liquidity and broadens the investor base, potentially providing underlying support for price movements predicted by the technical setup.