Crypto $PI Up 36% Today: Price Analysis and Expectations After Surprising Rally

• Crypto PI is trending today.
• PI approaches price of US$ 3,00.
• Bullish and bearish scenarios revealed.

Cryptocurrency $PI has been catching the market’s attention after a remarkable recovery following a period of slowdown following the launch of its mainnet on February 20. The digital currency, which reached a high close to the $3,00 mark, has sparked the interest of investors looking to understand the asset’s appreciation potential.

The Pi Network (PI) cryptocurrency has seen an impressive 36% surge today, peaking at $2,97. Yesterday, PI crypto started the day trading at $1,60 and within hours reached peaks close to $2,72, a high impressive of over 70%.

Pi Network, a smartphone cryptocurrency mining project that claims to have 60 million users, has had a debut marked by a rollercoaster price ride, with the token reaching a fully diluted market value (FDV) of a staggering $195 billion before plunging 50% in just two hours. The launch of PI generated great anticipation in the crypto community, especially among Pi Network users, who were eagerly awaiting the opportunity to trade their tokens. However, the debut was marred by concerns over liquidity.

After a period of instability, PI has shown resilience, driven by a strong upward movement. This behavior raises the question: how far can PI cryptocurrency go? A cryptocurrency analyst known as “Pavlovmax06789” shared a analysis of the two possible scenarios for the cryptocurrency in the coming days.

Optimistic Scenario

If the market continues to favor buyers, PI could retest its high of $3,0050. A break above this resistance level could propel the digital currency towards a new high of $3,50, indicating strong bullish momentum in the short term.

“A sustained price above this level could push PI towards its overhead resistance at $3 in the near future, signaling strong upward momentum,” he highlighted.

Pessimistic scenario

On the other hand, if sellers take control of the market, PI could face a price correction, seeking support at the $2,5425 range. Further selling pressure could lead the cryptocurrency to test the crucial support level at $2,0575.

“On the other hand, if the bears regain control, we could see the price falling towards the key support level of $2,5425. If the bearish pressure intensifies, the PI could decline further towards its crucial support level of $2,0575.”

At the time of publication, the Pi Network (PI) price was quoted at $2,73 with a 22% increase in the last 24 hours.