Pi Network Price Remains Above $0.60 Amid Bullish Signals
Pi Network's price has stabilized around $0.60, maintaining support despite recent selling pressure. Signs indicate a potential recovery as consolidation occurs at $0.63.
- The Moving Average Convergence Divergence (MACD) shows signs of a bullish shift with an approaching crossover.
- Market sentiment may improve as bearish momentum declines, potentially increasing buying pressure.
- The US-China trade deal may act as a catalyst for the broader crypto market, supporting Pi's upward movement.
- Current valuation debates revolve around Pi Network’s dual-value model: an internal Global Consensus Value (GCV) of $314,159 and an external exchange price of $0.60.
- Pioneers express frustration over unpaid rewards and stalled migrations amid a significant price correction of 80% from its peak.
Currently priced at $0.64, Pi Network remains above critical support of $0.61. Analysts suggest that improved inflows could allow it to challenge resistance at $0.71.
Crypto analyst Tom Camp predicts a possible increase to $1.50, highlighting a breakout from a significant trendline and suggesting a potential for substantial price movement.
Pi Network MACD crossover - Source: TradingView