The price of Pi Coin has risen by 26% in the past three days, climbing to about $0.64. This surge has drawn interest from analysts and traders forecasting potential movement to higher price levels.
Reasons for Pi Coin Price Surge
Analysts attribute the recent price increase of Pi Coin to its breakout through a long-term descending trendline. This breakout occurred after the price hit strong support around $0.50, leading to active buyer intervention.
Technical Analysis and Investor Activity
Analyst Joe Swanson pointed out the potential breakout before it happened, noting strong green candles on the charts. Another analyst, Sjuul from AltCryptoGems, added that the price rise is also backed by the activity of large investors.
Pi Coin Outlook: Traders' Perspectives
Some traders are hopeful that the price of Pi Coin could reach $1 in the coming days. This sentiment is bolstered by a growing optimism in the market and the upcoming Pi2Day 2025 event, which is expected to attract additional interest in the cryptocurrency.
Given the current market strategies and positive technical signals, many experts suggest that Pi Coin may continue its rise if it can hold above key levels.
