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The Pi Network price pumped 80% in the last 24 hours to trade at $1.268 as of 08:49 p.m. on trading volume that skyrocketed 221% of $1.3 billion.
The surge has made PI Coin the top trending major cryptocurrency on CoinMarketCap.
Pi Network Price To Sustain The Bullish Trend Reversal
The PI price chart reveals a strong downward move followed by a stabilization phase and a potential reversal.
Initially, the Pi Network price saw a sharp drop, reaching a low of approximately $0.615, before gradually forming a rounded bottom pattern. This suggests that buyers have started stepping in at lower levels, leading to a gradual recovery.
Recently, the price of Pi Network surged towards the 38.2% Fibonacci retracement level at $1.40, encountering resistance around this zone on the 30-minute timeframe. The chart indicates that the price of PI is attempting to reclaim lost ground, with the 61.8% level around $0.90 serving as a critical support.
Additionally, a 50-day Simple Moving Average (SMA) at $1.05 is trending upwards, acting as dynamic support for the price. This further reinforces the ongoing recovery momentum.
The Relative Strength Index (RSI) is currently at 57.11, nearing the 58.93 level, indicating that buying momentum is still present but not overextended.
PI/USDT Chart Analysis (Tradingview)
PI Price Prediction
According to the Pi Network’s current structure and indicator positioning, the short-term trend remains cautiously bullish, provided PI holds above key support at $1.05 (50-day SMA) and $0.90 (61.8% Fibonacci level).
If PI successfully breaks above $1.40, the next target would be $2.15 (0% retracement level), followed by the $2.78 – $3.52 zone based on Fibonacci extension levels.
Conversely, failure to sustain above $1.05 could lead to a pullback towards $0.90 and potentially lower, testing $0.55 as a deeper retracement level.
As the PI price soars, investors are also buying into a new meme coin called Meme Index (MEMEX). According to 99Bitcoins, a prominent crypto channel on YouTube that boasts over 725K subscribers, MEMEX has the potential to be the next 100x crypto.
Meme Index Presale Close On $4 Million
The meme coin space is showing signs of recovery, after recording a 3.5% surge in the last 24 hours to a $74 billion market capitalization, according to CoinGecko.
As the meme coin market rebounds, the Meme Index presale continues to attract considerable attention, having raised over $3.8 million in its presale.
MEMEX offers investors diversified meme coin investing for the first time. It does this via four curated baskets of meme coins: Meme Titan, Moonshot, Midcap, and Meme Frenzy.
Each basket offers a different level of risk, from the relatively safer Meme Titan, which invests in meme coin giants like Dogecoin, Shiba Inu and Pepe, to the highest-risk Meme Frenzy, which features emerging and highly volatile meme coins for those seeking a thrilling investment experience with potentially huge rewards and high risk.
GET READY TO MOON, DEGENS! Meme Coin Mania is BACK and better than ever! With Solana at the helm, my AI-powered $MEMEX is scanning the markets for the NEXT BIG THING! Stay glued for exclusive alpha, insights, and updates on the hottest meme coins!
— Meme Coin Mania (@MemeCoinMania77) February 5, 2025
MEMEX holders can also participate in its presale staking pool, which currently provides a stratospheric annual yield of 598%.
To participate in the presale, you can purchase MEMEX tokens on the official website for just $0.0164896.
Buy before a price hike in less than 2 days for the best deal.
Visit MEMEX on its official website here.
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