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Cryptocurrency News Articles
Pi Coin Price Prediction: As anticipation mounts, analyst offer succinct forecasts for future value of Pi
Oct 23, 2024 at 05:12 pm
Pi token's current price is $39.86 in the PI/USDT pair, which is up 0.13% in the past 24 hours.
PI token price today is $39.86 in the PI/USDT pair, showing a 0.13% gain over the past 24 hours. The token has been mainly consolidating in a narrow range from $38 to $40, indicating limited volatility.
However, traders are keeping an eye out for either bullish breakouts or bearish breakdowns, as the technical indicators are suggesting both possibilities.
Pi token daily price prediction shows less movement, with a slight trend upwards. The highest price recorded for the day was $39.99, while the lowest recorded price was around $38.51.
But the changes are mild, and PI has been oscillating in the $38-$40 range, indicating consolidation. The daily candlestick is green, showing a slight movement up from the open price. PI remains trapped within a tight range near its low price, which may indicate indecision with traders waiting for a clear breakout.
This could indicate that the token's next major move is approaching, although the direction remains unclear.
The MACD indicator is showing a weak bearish momentum at press time, as the MACD line is at 0.979476, lower than the signal line at 1.673773. However, the bearish momentum is weak, and the distance between the MACD and the signal line is small.
RSI is showing neutral momentum at the moment, as it stands at 50.80, indicating that it is neither overbought nor oversold, suggesting that the market is also undecided on the next price direction.
As PI continues its consolidation period, traders are looking at key support and resistance levels. Getting a breakout above $40 could act as the first signal, indicating the onset of an upward trend and the next key resistance level at $42.
However, a drop below $38 could lead to further declines, with potential support near $37. The technical indicators suggest that Pi 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.
Even though the official token from the Pi Network has not yet been launched, IOUs that represent the token's price are being traded on several exchanges, including HTX and BitMart.
The Pi Network team has stated that these listings are unofficial and not endorsed by the project, but the trading continues. PI token IOU price increased by 80% in October to reach 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.
Analyst Propose Brief Forecasts for Future Value of Pi:
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 was 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.
Disclaimer:info@kdj.com
The information provided is not trading advice. kdj.com does not assume any responsibility for any investments made based on the information provided in this article. Cryptocurrencies are highly volatile and it is highly recommended that you invest with caution after thorough research!
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