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As the Consensus Summit kicks off today, i.e., on May 14, eyes are all on the Pi Network. The excitement comes from the scheduled appearance of co-founder Dr. Nicolas Kokkalis, who is expected to announce important updates about Pi’s ecosystem.
Speculations are running high about announcements related to the launch of new DApps, long-awaited listing on exchange platforms like BitMart, HTX, or even Binance, and potentially a detailed roadmap for Pi’s mainnet launch. Consequently, the hunt for Pi coin price analysis is growing louder.
Pi Coin Price Analysis: Is the $2 Mark Next?
Pi price has impressed the crypto space with a 103.12% gain over the past week, rising from under $0.70 to a high of $1.34. In the past 24 hours alone, the altcoin spiked 5.89%, to a high of $1.34 before retracing to current levels around $1.17.
The 4-hour chart shows a sharp breakout rally that spiked at a key resistance level of $1.40. Despite failing to breach this resistance, the price has found support around $1.09–$1.10. The 9-D Simple Moving Average, currently at $1.1678, has been acting as dynamic support.
Based on the current trends, the potential low for PI could rest around $1.05 if selling pressure increases. The average trading range is between $1.15 and $1.25. If the bullish momentum resumes, especially catalysed by positive news from the Consensus Summit, the price is likely to retest $1.40 and could push toward the $2 mark.
FAQs
The Pi price at the time of press is $1.17, with a daily change of +4.36%
Yes, if the crucial resistance at $1.40 is broken, especially on the major announcements at the Consensus Summit, a surge to $2 is within reach.
