The integration of the Pi Network with Chainlink could be the catalyst for a remarkable surge in the price of the PI token. With fresh adoption opportunities, Pi Network is now poised for a breakthrough to $3.
The announcement of Pi Network‘s integration with Chainlink has sparked excitement within the Pi community. This partnership could pave the way for a significant price surge of the PI token in the coming weeks.
Chainlink has recently included PI in its data feeds, expanding its utility across the Web3 industry. Decentralized investors and developers will now have access to reliable price data on the PI token, facilitating the trading of derivatives like options.
This integration is a crucial step for the Pi Network, aiming to gain adoption and visibility. As noted by analyst MrSpockApe, this development will allow decentralized applications (dApps) to leverage PI token price data.
Moreover, many observers believe that this collaboration will enhance the chances for PI to be listed on major centralized exchange platforms like Binance, Coinbase, and Kraken. Such a listing would be a significant catalyst for a price surge.
Given the current market sentiment and the increasing utility of Pi Network, the PI token could reach its $3 price target in the coming weeks. Additionally, with a 40% increase over the past 7 days, a rally of 4 times the current value is possible.
At the time of writing, PI is trading at $0.75, having outperformed the overall crypto market in recent days. However, the altcoin has formed a cup and handle pattern on the four-hour chart, which could precede a 44% rebound towards $1.13.
If the Pi Network price manages to break the $1.12 resistance level, it could trigger a significant token surge towards the breakout level at $3.
Ultimately, technical indicators are sending mixed signals on the Pi Network price outlook. The RSI line is rising and has reached 65, indicating the momentum remains bullish.
However, Pi Network token is gaining adoption, and the Chainlink integration brings it closer to listing on major crypto exchanges. Thus, if this occurs, a breakthrough is likely to happen soon, with an analyst even predicting a PI rally up to $10. Nevertheless, $3 represents a more realistic short-term goal.
Gaston has been a writer for over 7 years and a passionate cryptocurrency enthusiast since 2020. He loves exploring the crypto ecosystem and is now dedicated to sharing his insights and discoveries through InvestX.
DISCLAIMER
This article is for informational purposes only and should not be considered as investment advice. Trading cryptocurrencies involves risks, and it is important not to invest more than you can afford to lose.
InvestX is not responsible for the quality of the products or services presented on this page and cannot be held liable, directly or indirectly, for any damage or loss caused by the use of any product or service featured in this article. Investments in crypto assets are inherently risky; readers should conduct their own research before taking any action and invest only within their financial means. This article does not constitute investment advice.
Risk Warning : Trading financial instruments and/or cryptocurrencies carries a high level of risk, including the possibility of losing all or part of your investment. It may not be suitable for all investors. Cryptocurrency prices are highly volatile and can be influenced by external factors such as financial, regulatory, or political events. Margin trading increases financial risks.
CFDs (Contracts for Difference) are complex instruments with a high risk of rapid capital loss due to leverage. Between 74% and 89% of retail investor accounts lose money when trading CFDs. You should assess whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Before engaging in financial or cryptocurrency trading, you must be fully informed about the associated risks and fees, carefully evaluate your investment objectives, level of experience, and risk tolerance, and seek professional advice if needed. InvestX.fr and the InvestX application may provide general market commentary, which does not constitute investment advice and should not be interpreted as such. Please consult an independent financial advisor for any investment-related questions. InvestX.fr disclaims any liability for errors, misinvestments, inaccuracies, or omissions and does not guarantee the accuracy or completeness of the information, texts, graphics, links, or other materials provided.
Some of the partners featured on this site may not be regulated in your country. It is your responsibility to verify the compliance of these services with local regulations before using them.
