🍕 Bitcoin Pizza Day is Almost Here!
Join the celebration on Gate Post with the hashtag #Bitcoin Pizza Day# to share a $500 prize pool and win exclusive merch!
📅 Event Duration:
May 16, 2025, 8:00 AM – May 23, 2025, 06:00 PM UTC
🎯 How to Participate:
Post on Gate Post with the hashtag #Bitcoin Pizza Day# during the event. Your content can be anything BTC-related — here are some ideas:
🔹 Commemorative:
Look back on the iconic “10,000 BTC for two pizzas” story or share your own memories with BTC.
🔹 Trading Insights:
Discuss BTC trading experiences, market views, or show off your contract gai
As of May 19, 2025, Pi Network (PI) is trading at approximately $0.7477, reflecting a modest recovery from recent lows.
🔍 Technical Analysis Overview
Support Levels
Immediate Support: $0.72–$0.70
Secondary Support: $0.66–$0.68
Key Support Levels:
S1: $0.6549
S2: $0.6180
S3: $0.5737
Resistance Levels
Immediate Resistance: $0.78
Breakout Target: $0.85–$0.90
Key Resistance Levels:
R1: $0.7362
R2: $0.7806
R3: $0.8175
📊 Market Indicators
Ichimoku Cloud: PI is trading below the Kumo, indicating a bearish bias.
Chande Momentum Oscillator: Currently at –39.01, suggesting weak bullish momentum.
MACD & RSI (30-min): Both indicators are flat/neutral, pointing to potential consolidation or reversal.
📈 Trend Outlook
Short-Term: PI is consolidating between $0.70 and $0.78. A decisive move above $0.78 could lead to a rally toward $0.85–$0.90.
Medium-Term: The formation of a rounding bottom pattern suggests a potential bullish reversal, with a possible 50% price rally if confirmed.
⚠️ Risk Factors
Recent Volatility: PI experienced a sharp decline of over 40% following the announcement of a $100 million venture fund, leading to investor skepticism.
Market Sentiment: The current sentiment is cautious, with traders awaiting a clear breakout above resistance levels to confirm a bullish trend.
✅ Conclusion
Pi Network (PI) is currently in a consolidation phase, with key support at $0.70 and resistance at $0.78. A breakout above $0.78 could signal a bullish trend toward $0.85–$0.90. However, failure to hold above $0.70 may lead to a retest of lower support levels around $0.66. Traders should monitor volume and momentum indicators for confirmation before entering positions.