- Pi Coin surged over 20% to $1.36, breaking key resistance and signaling strong bullish momentum.
- However, overbought indicators suggest a potential short-term correction before any further upside.
The PiCoin market is buzzing as the token skyrocketed to $1.36 after an eye-catching 20% rally — reigniting bullish momentum and challenging key resistance levels. With the price up over 125% since May 9, investors are now asking: can the bulls maintain control above $1.50, or is a cooldown imminent?
A Breakout Fueled by Technical Strength
Pi Coin’s recent rally stems from a powerful breakout beyond a descending triangle, launching the price from $0.70 to its current highs. Using Fibonacci retracement levels drawn from March’s high to April’s low, the coin has confidently pushed past the 2.618 extension at $1.16 and is currently testing the 3.618 level around $1.39. If buying pressure continues, bulls could eye the next leg up toward $1.53 or even $1.58.
Technical momentum supports the move — all major exponential moving averages (20, 50, 100, 200 EMA) are in bullish alignment on the 4-hour chart, and price action is trending well above the upper Bollinger Band. This confirms strong upward energy, but also hints at potential overextension.
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Is a Cooldown on the Horizon?
Momentum indicators are flashing caution signs. RSI readings are in overbought territory (above 77), and the Stochastic RSI on the 15-minute chart is above 90 — often a precursor to short-term pullbacks. Likewise, the MACD is showing bullish divergence, yet this has historically signaled consolidation after sharp climbs.
If selling pressure sets in, look for support at $1.16 and $1.00. A deeper retracement could target the $0.88–$0.90 zone — an area reinforced by previous resistance and strong EMA clusters.
Outlook for May 13 and Beyond
With Pi Coin trading near a parabolic top, May 13 could bring critical price action. A decisive break above $1.39–$1.50 on volume may unlock further upside toward $1.58. However, failure to maintain current momentum could prompt a healthy correction.
Traders should remain agile. Swing entries near support may offer the best long setups, while intraday traders must watch for signs of exhaustion as Pi Coin navigates this high-volatility zone.