Pi Network Rises 12% Ahead of Important Ecosystem Announcement
In a span of 24 hours, the value of Pi Network (PI) jumped 12%, hitting a daily high of US$0.65 before dropping slightly to US$0.61.
However, despite this increase, PI is still trapped in a consolidation pattern due to a lack of investor enthusiasm.
Investor Interest is Still Low
Based on information we quoted from Beincrypto media, over the past month, interest in Pi Network has declined drastically.
The lack of attention from the wider market makes it difficult for PI to maintain a stable price increase.
Technical Analysis: Impulse is Still Weak
The MACD indicator shows slight bullish signs with a histogram showing thin green bars.
Unfortunately, this momentum is not strong enough to drive a significant price increase.
Anticipating a Big Announcement
The Pi Network community is looking forward to an important announcement regarding the ecosystem on May 14.
This news is expected to bring fresh air and trigger a bigger price spike.
Future Price Forecast
In order to break out of the consolidation phase, PI needs to break through resistance at $0.71 while maintaining support at $0.61.
Without any major changes in market sentiment, PI price is likely to remain in the current range.
With the ecosystem announcement approaching, investors and the Pi Network community are hoping for a positive catalyst that could push the price higher.
