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▲ Pi Network (PI)/AI generated image ©
Pi Network (PI) is on the verge of breaking through the $0.20 mark, having rallied for six consecutive days, fueled by massive infrastructure growth based on over 1 million verified users.
According to investment media outlet FXStreet on April 29 (local time), Pi is trading above $0.1900 as of Wednesday, successfully extending yesterday's 6% gain. The Pi Core Team announced via social media that over 1 million verified users have completed more than 526 million Know Your Customer (KYC) validation tasks, demonstrating the network's robustness to the market.
With over 18 million verified participants, the network stands as one of the largest user-based ecosystems in the world. The core team emphasized that user migration from the testnet to the mainnet is an essential step, which will enable future transfers of Pi tokens to exchanges. This performance announcement was strategically made ahead of the co-founders' scheduled speech at the Consensus 2026 event, aiming to restore confidence among individual investors.
From a technical perspective, the Pi token maintains a clear bullish bias in the short term. The current price has broken above the 50-day Exponential Moving Average (EMA) near $0.1785 and the descending trendline at $0.1831. The Moving Average Convergence Divergence (MACD), a short-term momentum indicator, is rising above the zero line with its signal line, expanding its positive histogram. The Relative Strength Index (RSI) is also at 69, nearing the overbought territory, suggesting strong but increasingly limited upward momentum.
For a further significant uptrend, the price must definitively surpass the March 21 high of $0.2041. If successful, it could open the way for a rise to the 200-day EMA, a long-term resistance level at $0.2244. Conversely, if selling pressure pushes it into a downturn, the initial support level is formed near $0.1831, the trendline breakout point, with the 50-day EMA at $0.1785 expected to provide additional cushioning.
*Disclaimer: This article is for investment reference only and does not take responsibility for investment losses based on it. The content should be interpreted for informational purposes only.*
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