the price performance of Pi coin saw optimizationThe daily chart highlights a pump-and-dump type of situation in the overall price action structure, with PI returning to lower price levels, indicating the quick consumption of earned profits. PI later established a support at $33.0 and after a long period of consolidation in the market, its price surged upwards.
In the past week, the price performance of Pi coin saw an optimization of 20.63% and an intraday gain of 4.83%, with a present price of $45.89.
Furthermore, the PI coin asset has been displaying bullish characteristics as it has been trading above the EMA bands of 20-day and 50-day dynamic resistances. The MACD exhibits a bullish cross below the zero line at -0.35, and the RSI is at 60.84, gradually rising with support from . This indicates that the PI coin asset is gaining momentum and could achieve new heights in the coming sessions.
Therefore, if buying demand suddenly increases, the game could go one-sided in favor of the bulls. A sudden surge in demand could cause PI coin to continue rising from its current price level, potentially reaching targets of $51.0 and $61.0. Conversely, if demand for the PI coin asset declines, buyers will lose more ground and the price could return to the previous consolidation range or decline sharply.
