Is Pi Network Breakout Imminent? New Roadmap Sparks 4% Surge Amidst Mixed Reactions
Pi Network has seen a 4% surge in price over the past 24 hours following the release of its Migration Roadmap. While there are some positive indicators suggesting a potential recovery, it is still too early to confirm an uptrend for the token.
Technical indicators such as the Ichimoku Cloud and RSI are hinting at a possible price recovery, but strong resistance levels are preventing a clear breakout. The lack of clarity in the new Migration Roadmap has left many users frustrated and uncertain about the future direction of the price.
The recently released Mainnet Migration Roadmap by Pi Network lacks specific dates and details, causing frustration among users. The roadmap outlines three phases without timelines, leading to uncertainty. Some users have reported discrepancies in their coin balances with no resolution in sight. Questions about the transparency of the project have also been raised, particularly regarding the claim that all tokens were minted at genesis.
Despite the potential for price recovery, Pi Network is still facing strong resistance just below the Ichimoku Cloud. The market is not yet strongly bullish, and traders are exercising caution before making any significant moves. The RSI has shown signs of recovery but has cooled slightly, indicating moderate bullish momentum.
Key resistance levels for Pi Network are currently at $0.66, with a successful breakout potentially pushing the price towards $0.789 and $0.858. However, uncertainties surrounding the Migration Roadmap could impact the token’s direction. If Pi fails to break $0.66, it may experience a dip towards $0.54 or $0.40.
Looking ahead, the focus is on the upcoming Consensus 2025 event, which is generating excitement within the Pi Network Community. Analyst Dr. Altcoin believes that this event could be a game-changer for Pi Network if the Pi Core Team acts swiftly. He is urging the team to approve KYB applications and launch DApps in the Pi ecosystem before the event to capitalize on the global spotlight and boost Pi’s credibility and growth.
With Consensus 2025 on the horizon, Pi Network’s price remains around $0.64. Potential developments and adoption by major institutions could see the token reaching $30, but short-term volatility remains a concern. Overall, the next few sessions will be crucial in determining Pi Network’s direction, influenced by technical signals and community sentiment.
