Pi Network Increases Over 300% Compared to ATL: Can It Sustain This Growth Momentum?

The cryptocurrency market once again witnessed an impressive price surge from Pi Network (PI), continuing its upward trend after recovering from a significant decline following its listing. On February 20, after the listing, PI had to face an initial sell-off, possibly due to early miners selling their stocks, causing the price to plummet to an all-time low of (ATL) at $0.60. However, since then, PI has made a strong recovery, increasing by over 300% from the low and is currently trading at $2.64. This price surge also includes an impressive 38% daily increase, signaling strong market interest and further price potential.

Breakthrough and significant price increase The price increase of PI is driven by a strong breakthrough from the main resistance area, which previously acted as a barrier to the upward trend. The breakout from this red-marked resistance area on the 2-hour chart has triggered an explosive price increase from $1.70 to a high of $2.99, demonstrating strong upward momentum. However, after reaching this local high, the price has faced temporary rejection near the resistance level of $2.93 - $2.99, leading to a slight retreat to the current price level of $2.64.

An important factor in maintaining this upward trend is the TideMaster indicator, which has provided support throughout the price increase. The green area of the indicator, visible on the chart, acts as a dynamic support band, providing buying opportunities whenever the price drops. Currently, PI is trading just above the green support zone, indicating that the buying side is still in control. If the price continues to respect this area, it could set the stage for another move if it breaks above the resistance zone of $2.99. However, if PI breaks down below this blue zone, it could signal a potential trend change, leading to a retreat to lower support levels at $2.16 - $1.97 before the next major move. Can it maintain this momentum of development? The remarkable 300% recovery of Pi Network from ATL highlights the increasing market interest in assets. Breaking through the main resistance level and strong support level provided by the TideMaster indicator indicates that the uptrend may continue if the buying side maintains control. However, surpassing the $2.99 resistance level is crucial for the next price increase. If PI successfully breaks through this resistance level, it could target $3.50 and beyond. On the other hand, breaking below the TideMaster support level could lead to a retreat towards $2.16 - $1.97, where buyers may look to re-enter. Disclaimer: This article is for informational purposes only and does not constitute financial advice. Always do your own research before making any investment decisions.