\n\t\t\t\t\t\t\t\t\tCheck out what needs to happen for PI to hit $0.40.\t\t\t\t\t\t\t\t<\/p>\n<\/p><\/div>\n
While the native cryptocurrency of Pi Network posted an impressive revival in mid-March, it lost momentum and has been underperforming over the past several days.<\/p>\n
According to one analyst, though, its price may soon pump by triple digits, assuming it surpasses an important resistance level.<\/p>\n
Time to Shine Again?<\/h2>\n
Earlier in March, PI spiked<\/a> to a multi-month high of roughly $0.30 following major protocol updates and support from the leading crypto exchange Kraken. However, a classic \u201csell the news\u201d effect observed<\/a> around Pi Day led to a substantial pullback, and the asset currently trades at around $0.17 (per CoinGecko\u2019s data), representing a 12% decline over the past two weeks.<\/p>\n Despite the downtrend, some market observers remain optimistic that PI could experience another resurgence in the near future. For instance, X user Buzz Builder recently predicted<\/a> that a \u201cbig pump is coming,\u201d adding that Pi Network \u201cis building.\u201d<\/p>\n ALTS GEMS Alert was a bit more precise, arguing<\/a> that months of sideways action at around $0.17 typically lead to a \u201cmassive move.\u201d The analyst forecasted that overcoming the important $0.20 level may open the door to a price explosion to as high as $0.40.<\/p>\n \u201cAccumulation looks complete. Ready for the breakout,\u201d they concluded.<\/p>\n<\/blockquote>\n PI\u2019s Relative Strength Index (RSI) indicates that a move north may indeed be on the horizon. The technical analysis tool tracks the speed and magnitude of the latest price changes to help traders identify potential reversal points. It runs from 0 to 100, where anything under 30 suggests the asset has entered oversold territory and could be due for a rally. On the other hand, ratios above 70 typically signal that a correction may be approaching. Currently, the RSI stands at around 35, or quite close to the bullish zone.<\/p>\n Nonetheless, not everything points upward. The upcoming token unlocks, combined with the growing amount of PI flowing onto exchanges, suggest the price may head south in the short term. Data shows that over 207 million coins will be released in the next 30 days, with an average daily unlock of almost 7 million. April 9 is shaping up to be the record day when 18.2 million PI will be freed up. This development will give investors the chance to cash out tokens they have been waiting for a long time, but it doesn\u2019t guarantee a pullback.<\/p>\n The rising number of PI tokens sitting on exchanges tells the same story. Over the last 24 hours, approximately 1.3 million coins have been transferred to such platforms, bringing the total balance to 475.2 million. This is often interpreted as a pre-sale step.<\/p>\n \u00a0<\/p>\n\n
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The Warning Signs<\/h2>\n
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