🔥Pi Network breaks the trend! The price of PI Coin is now aiming for $1❓🚀

The price of the #pi coin has experienced a free fall of more than 80% over the last 30 days, dropping from a high of $2.98 to $0.4012. However, when market sentiment turned bullish, the price of this altcoin increased by 50.16% in 48 hours. This led to it once again being in the spotlight of the cryptocurrency space.
As the bullish sentiment persists, the crypto community is now speculating that this crypto project will retest its significant price of $1 in the near term, as technical indicators point to a strong bullish reversal on the horizon.
Given the current market sentiments, leading crypto marketers and investors are closely monitoring the price fluctuations of this altcoin. Are you one of the many who wants to know the same? In this article, we will examine the technical sentiment and possible short-term price forecast of the Pi coin.
Is the price of Pi Crypto on the verge of a major bullish reversal?
After trading under bearish sentiment for a short period, the price of the Pi coin has successfully overcome its negative trend in the daily time frame. Currently, this altcoin is trading at $0.6028 with an intraday trading volume of $157.935 million.
The simple moving average (SMA) has achieved a positive crossover on the daily timeframe. This underscores the growing bullish sentiment for the altcoin in the cryptocurrency market.
Moreover, the relative strength index (RSI) shows bullish convergence below its neutral level on the price chart of the coin PI. This indicates that this altcoin may experience a strong bullish reversal in the near future.
Will the PI coin be worth anything?
If the market continues to favor the bulls, then the price of Pi may bounce back to its resistance level of $0.6450. If the bullish sentiment strengthens at that moment, it could push the price of this altcoin to its upper target price of $1 in the coming days.
On the negative side, if this digital asset experiences an increase in liquidations, it could lower the price to its critically important support level of $0.50 this month.