Pi Network's value surges by 15.36% within a day, landing at $0.78 on May 9, yet encounters obstacles at this price level.
In the past 24 hours, the Pi Network's price has made a killer leap of 15.36%, showing a strong bullish wave. This weekly concert has seen the Pi coin soar by 23.84%, creating consistent buzz among traders. Through the day, the price bounced around the key resistance of $0.78 and the temporary support at $0.70.
Pi Network Price Analysis of May 8
The trading day of May 8th kicked off with a thrilling breakout, driven by a golden cross on the MACD line and an overbullish RSI indicator. The price surged thanks to persistent buyer pressure throughout the early hours. At 02:55 UTC, another golden cross on the MACD pumped even more adrenaline into the bulls. However, these consistent overbought RSI readings led to a collusion with the resistances at $0.6500. Sadly, the bulls lost their wind as a fatal death cross cropped up on the MACD, inciting a sharp drop in price. The price found support at $0.6159 as seller sharks appeared on the scene.
This wasn't the end of the game, as another death cross at 08:30 UTC added fuel to the bearish fire, dragging the price even lower until the bulls returned after another golden cross at 11:35 UTC.
As shown in the Pi/USDT 5-minute Chart-1, the game continued to fluctuate as the upward momentum resumed. Overbought RSI signals at 15:40 UTC and 19:50 UTC suggested strong buyer interest and renewed bullish excitement. Toward the end of the day, a final golden cross on the MACD appeared at 23:25 UTC, followed by an RSI overbought signal near midnight. This action triggered another breakout, signaling the bulls might be gearing up for another run above resistance.
Pi Network Price Analysis of May 9
The trading day of May 9th opened with a strong, unstoppable breakout. The move was fueled by the continuous overbullish RSI indicator persisting until 01:30 UTC, with buyers calling the shots. The Pi price jumped into an uptrend that peaked at a crucial resistance level of $0.7001. But the party was short-lived; a death cross appeared on the MACD line, signaling a shift in momentum. Sellers dived in, and the price plummeted sharply. By 04:15 UTC, the MACD presented a golden cross, while the RSI dipped into the oversold territory by 06:00 UTC.
This tandem of events triggered another breakout and flipped the sentiment back to bullish. The uptrend remained powered up by another RSI overbought reading at 07:25 UTC. The Pi Network price reached its intraday high at $0.7800, marking the top for the day. As shown in PI/USDT Chart-2, after reaching that level, the MACD indicator displayed another death cross, signaling a cooling-off phase. The price entered a volatile, see-sawing phase, oscillating between $0.70 support and $0.78 resistance.
Pi Network Price Outlook
The future seems bright for the Pi Network, with the bulls holding the reins. If the bullish momentum persists, the price could violently break through the current resistance at $0.78 and potentially aim even higher, perhaps reaching the $0.80 mark. However, if the selling pressure escalates and the trend reverses, Pi may challenge the temporary support at $0.70. A drastic fall below this level could bring the price down to previous support zones around $0.67 or lower. The market remains in a tense, uneasy standoff, with traders eagerly waiting for a clear breakout or breakdown. The next few sessions are expected to shape Pi's short-term direction.
[1] https://medium.com/pi-network/pi-coin-price-prediction-forecast-pi-crypto-analysis-2025-may-2025-8ff426b9835[2] https://www.zdnet.com/article/pi-network-price-pi-crypto-price-pi-coin-explained/[3] https://www.coindesk.com/events/consensus-2025[4] https://www.investopedia.com/terms/t/technical-analysis.asp
- In the context of finance and investing, the Pi Network price analysis for May 9 suggests a likely trend towards the resistance level of $0.7800, while the temporary support might be at $0.70.
- The Pi Network price Outlook indicates that, if the bullish momentum persists, the trading could possibly break through the current resistance at $0.78 and aim even higher, potentially reaching $0.80.
- In the past 24 hours, the Pi Network's trading volume has increased significantly, with USDT being a major currency involved in these transactions.
- Despite the bullish expectations, a reversal in the trend and increased selling pressure could challenge the support at $0.70, potentially bringing the price down to previous support zones around $0.67 or lower.
