Pi Network’s PI token has surged over 20% in 24 hours with trading volume spiking 142%, marking a potential trend shift. The rally from $0.194 to $0.294 faces a key resistance test near $0.292, but technical indicators suggest a retracement may be imminent despite strong market momentum.
The cryptocurrency Pi Network [PI] experienced significant price appreciation recently. It rallied 20.5% in the last 24 hours alongside a 142% increase in daily trading volume, signaling a potential trend shift.
Since a low of $0.194 last Friday, the token has rallied 51% to reach $0.294. At the time of writing, it was challenging the $0.292 resistance level from September 2025.
On-chain data shows Open Interest nearly doubled in the last 48 hours, with a positive funding rate indicating speculative interest. A short squeeze beyond $0.3 is possible in the coming hours.
A breakout past the $0.2 resistance occurred on high volume, invalidating the bearish daily structure. The On-Balance Volume indicator made new highs, signaling steady buying pressure.
However, the daily Relative Strength Index was above 80, posing a threat of a bearish divergence. Combined with the $0.29-$0.30 supply zone, this could set conditions for a PI retracement.
The four-hour chart’s RSI was also in overbought territory, though that does not guarantee an immediate pullback. Traders should not FOMO into buying PI at these levels, though short-term gains might be possible.
Fibonacci levels suggest the $0.23 area is a pivotal demand zone, marking a previous local high now reclaimed as support. Over the next week, a retracement towards the $0.23-$0.26 area could allow buyers to enter.
