- A 15% jump has pushed the PI price to $0.26.
- Daily trading volume has skyrocketed by over 173%.
The crypto market cap is settled at around $3.82 trillion, with the red and green flags waving across the assets. The largest assets like Bitcoin (BTC) and Ethereum (ETH) are trading at around $113.2K and $4K, attempting to turn the bear trap into a bull breakout. Among the pack of digital assets, PI has registered a steady 15.43% jump in the last 24 hours.
After testing a series of crucial resistance zones of PI, the potential bulls have taken the price up toward the $0.2854 range. In the early hours, the asset was trading at around a low of $0.2322. Upon the bulls maintaining the current momentum, the price movement may climb higher to new targets.
As reported by the CoinMarketCap data, PI is currently trading within the $0.2691 zone, as of now. In addition, the asset’s market cap has touched $2.23 billion, with the daily trading volume having exploded by over 173%, reaching the $121.86 million mark.
Will the PI Bulls Have Enough Power to Push it Even Higher?
The Moving Average Convergence Divergence (MACD) line of PI is above the signal line, implying a bullish momentum. The asset’s price may continue to rise depending on the broader market context. Besides, the asset’s Chaikin Money Flow (CMF) indicator settled at 0.05, hinting at a mild buying pressure in the market. The momentum is not strong enough to confirm a clear bullish trend.
Moreover, the Bull-Bear Power (BBP) reading of the token is at 0.0481, suggesting that bulls currently have the upper hand. The buyers might push the price higher. PI’s daily Relative Strength Index (RSI) value at 67.69 indicates that it may be approaching the overbought zone. Notably, if it rises above 70, it could signal a short-term pullback or consolidation within the market.
Assuming PI’s bullish sentiment is gaining more momentum, it might trigger the price to test the key resistance range at $0.2701. An extended correction on the upside could push the golden cross to take place, and the price may climb to $0.2711 and even higher.
On the downside, if the bears appear and take control, the PI price could instantly fall toward the $0.2681 support level. A potential bearish correction might initiate the death cross to unfold, and also likely send the asset’s price toward $$0.2671 or even lower.
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