Will Pi Coin Realistically Hit $3 ATH Again?

Pi Network price is reversing after the recent downtrend after posting a 5% gain at press time to trade at $0.82. Following these gains, Pi Coin investors are wondering whether this altcoin can sustain the bullish momentum and realistically reach the $3 ATH again. This article explores whether such a rally is likely to happen in the near term.

Pi Network Price Prediction & Analysis 

The Pi Network token trades at $0.822 today with a notable 5% gain in 24 hours. Pi Coin seems to gearing for a reversal past $1 in the near term. Meanwhile, traders booking profits after short-term rallies might cut this rally short. 

The hourly chart shows that Pi Coin broke out from a descending parallel channel. However, it is reversing to test support at the upper trendline. If this support fails, it could cause a resumption of the Pi Network bearish trend. 

The volume histogram bars indicate there was an uptick activity, which also pushed the RSI to 66. However, this indicator has since dropped to 56 as some traders begin selling. 

Nevertheless, the green AO bars show a bullish divergence. This suggests that Pi Coin price could soon record a reversal, past the psychological level of $1. 

However, despite the positive AO bars and a breakout from a descending channel, can Pi Network price realistically reach the $3 ATH again? 

Can Pi Coin Realistically Hit $3 ATH Again? 

Besides the bullish setup on Pi Coin’s hourly chart, other signals show a bullish Pi Network price prediction that it can realistically reach $3 again. 

Pi Coin advocate Dr Altcoin, recently observed that some traders are buying the dip. Per the analyst, one account purchased 3.65 million Pi Network tokens in six different transactions. If more traders buy at the low prices as they anticipate a price recovery, it could precede a major rebound in the price. 

Bullish news could also be the main driver of a Pi Coin rally to the $3 ATH level. The Pi Coin community remains hopeful that top exchanges like Binance will list the altcoin. Moreover, if listed on Coinbase, Pi Coin will gain access to the US crypto market, which will drive high trading volumes and stir a rally to an ATH. 

There is also speculation that a spot Pi Coin ETF could launch soon. Like Solana, XRP, and Cardano, which have all received ETF applications, Pi Coi is also a US-made altcoin. A filing could drive the momentum. 

Considering these possible catalysts, Pi Network price can realistically reach the $3 ATH level again. If it does, Pi Coin will attain an over $30 billion market cap, making it one of the top ten largest cryptos. 

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muthoni

Muthoni Mary is a seasoned crypto market analyst and writer with over three years of experience dissecting blockchain trends, price movements, and market dynamics. With a sharp eye for technical analysis and an in-depth understanding of on-chain metrics, she delivers insightful, data-driven content that helps investors navigate the fast-paced world of digital assets.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.