Impressive Price Surge of Pi
The token of the Pi (PI) network has seen a remarkable 18.46% surge in the last 24 hours, currently trading at $0.58, 10% lower than its recent high of $0.688.
This recent spike also came with over 35% increase in daily trading volume, now exceeding $186 million. Additionally, Pi network’s market capitalization has surged by 19.06% to $4.74 billion.
Currently, the token has been rejected below its trendline and is trying to hold above its 20-day moving average at $0.57. As long as PI does not sustain above this $0.63 trendline, it remains under the control of sellers.
Could Pi Network Experience a Breakout ?
A drop below $0.57 could potentially interrupt this upward trend.
In July, the project team plans to release over 268 million PI tokens, the largest monthly release until 2027. This substantial increase in circulating supply could exert downward pressure on prices.
The Volume Profile indicates a significant Point of Control (POC) at $0.63, creating a strong resistance for the token, explaining the pullback. A POC is an area with heavy trading activity, indicating significant buyer and/or seller interest.
If the token surpasses and maintains this area as support, PI could retest its resistance at $0.12, representing a potential increase of over 100%. The $0.63 resistance also aligns with the highest level of the Ichimoku cloud in 12H.
In essence, the token is poised for a significant surge if buyers manage to break this critical resistance.
How to Buy Pi on BitMart ?
If you want to purchase Pi tokens on BitMart, follow these simple steps to take advantage of this imminent surge:
- Create an account: Visit the official BitMart website and click on “Get Started.” Sign up with your email or phone number, then set a secure password.
- Verify your identity: Log in, go to “Account,” and follow the instructions for identity verification (upload ID and a selfie). This unlocks withdrawals and purchases.
- Deposit funds: Navigate to “Assets” > “Deposit,” select a currency (like USDT), and transfer funds from another wallet or use a credit card via a service like MoonPay.
- Buy the token: Go to “Trade” > “Spot,” search for the PI/USDT pair, enter the desired amount, and confirm the purchase. The minimum is $5.
