Price Breakthrough Prediction of Pi Network: Is $1 the Next Level After a 19% rise?

Pi Coin is showing strong signs of a comeback ahead of Pi2Day. In the past 24 hours, its price has surged over 19% to $0.63, with trading volume skyrocketing 153% to $285.65 million. This cryptocurrency has also climbed to the number 1 position on the trending cryptocurrencies list. According to analyst Kim H. Wong, this surge is a significant milestone for Pi Coin, especially with Pi2Day just three days away. This event is expected to bring updates on the project's progress, the development of the ecosystem, and AI integration. If Pi breaks through the resistance level of $0.65, it could quickly rise to a range of $0.80 to $1. With an all-time high of $3 and a recent low of $0.40, Pi Coin still has room to go higher. Analyst Joe Swanson further stated that this breakthrough is occurring exactly as he anticipated and this could be the beginning of a longer bullish trend, potentially even stronger as Pi2Day 2025 approaches. Technical indicators show signs of a short-term price increase. The chart of Pi Network shows a generally neutral trend, but there are signs of strength in the short term. The short-term moving averages of 10, 20, and 30 days mainly indicate buy signals, suggesting the possibility of an upward move. However, the long-term moving averages of 50 and 100 days are still flashing sell signals, thus the long-term trend remains weak at this time. What can we expect at Pi2Day? The price surge comes as excitement grows around the potential announcement from GenAI on June 28. The Core team is also expected to reveal major ecosystem updates. Whale activity is also driving prices as one wallet has purchased over $173 million worth of Pi, likely a large organization. The community is eagerly awaiting the launch of KYC Sync, which helps users easily link their IDs between the Pi App and Browser. This move brings millions closer to the complete Mainnet migration process. Will there be further adjustments? However, some analysts warn that the recent price increase of Pi may only last for a short period. While the hype and technical momentum are driving the rise, a correction may be imminent. Additionally, more than 268 million PI tokens will be unlocked in July, the largest release until 2027, which could put downward pressure. Dr. Altcoin recently shared that the recent ceasefire between Israel and Iran is a positive signal for Pi. He stated that Pi is unlikely to drop below $0.40 and is expected to slowly increase starting from the end of August when the token unlocks decrease.