Pi Network

Pi Network has been showing positive momentum in recent trading sessions, with a gain of 0.99% in the last 24 hours. The current price of $0.4633 represents a significant level for traders and investors.

Key Insights:

• Pi Network is trading within its established 24h range between $0.4560 and $0.4669.
• Trading volume of $66.1M is supporting the upward price movement, indicating moderate market participation.
• Market capitalization stands at $3.6B, establishing it as a major altcoin.
• Circulating supply is 7,666,189,367.59 PI (7.7% of maximum supply), which may reduce immediate selling pressure.

Market Outlook:

The short-term outlook for Pi Network appears bearish based on SMA analysis. A short-term bounce might be underway, but the overall trend remains challenged. The asset is testing its 24-hour high near $0.4669, with breakout potential. The asset is challenging support near the 24-hour low of $0.4560. Trading volume is relatively light (1.9% of market cap), potentially leading to higher volatility. The RSI indicator is currently neutral (36.5). MACD histogram is negative (bearish momentum). Price is currently below the 50-day SMA ($0.6038). The longer-term 200-day SMA is at $0.8629. Potential catalysts include transaction throughput, developer ecosystem growth, and integration partnerships. As always, proper risk management is advised given the inherent volatility of crypto markets.