Pi Network could extend rally past $0.80 as hype builds over major ecosystem announcement 

• Recent Price Action of PI Network sends several buy signals, but resistance under $ 0.80 APPEARS to cap.
• The PI network team teases a major announcement on 14 May, which increases the coin and increase the business interest.
• With resistance below $ 0.80 -the position of overbott indicates a possible trend improvement before the weekend.

The price of PI Network (PI) increases the profit when trading at $ 0.75 at the time of writing on Friday, which increases double digits for the second consecutive day. Telwind on PI can be attributed to a wide-based speed speed as a risk-on-the-bilateral trade agreement between the United States (US) and the United Kingdom. Nevertheless, in addition to the widespread positive market mood, the PI team indicated on a major announcement on 14 May, leading to enthusiasm and speculation among users.

Pie Network uptrend takes a breath

The PI Network Core team on Thursday teased the announcement of a major ecosystem, among other things, the largest exchange by a listing, trading volume on benance.

The announcement has been announced after the platform has made a major update to the users to make the mennet ecosystem more accessible to make strict safety standards. According to a blog post published on 2 May, verified pioneers, including full or temporary individuals, know their customers (KYC) approval, can activate the menet wallet through the PI wallet app before the migration is completed.

New features allow non-user user to join the ecosystem by making a direct menet wallet using the services of the third party after passing the set KYC requirements. The purpose of the PI network is to promote the inclusion with this update by accelerating global adoption before a full open network launch.

Pie Network uptrend to continue set

The PI network rally took a temporary breath after facing sales pressure at $ 0.77, while proceeding to close the gap at $ 0.80. The token currently hovers at $ 0.75 at the time of writing, more than 16% a day.

Since 30 April, its uptrend has been supported by a procurement signal from the supertland indicator. Such indications are confirmed when the trend-following indicator slides below the price, its color turns from red to green.

This encouraged traders to bring themselves into position before a potential breakout, which gained momentum after the value of the downs down the trendline resistance, as shown on the 4-hour chart given below.

The PI network’s uptrend 50-, 100- and 200-and 200-over-term expanded upwards above the exponential moving average (EMAs), indicating a strong rapid speed. However, the extremely overbott conditions manifested by the relative power index (RSI) indicator at 85.78, indicating the possibility of taking advantage, challenges the uptrend.

An inverted merchant of RSI indicators in the neutral region below 70 will provide a clear sales signal between interest and fall in confidence. The possibility of absorbing sales pressure due to a decline includes $ 200 EMA at $ 0.68 and the confluence area at $ 0.62, aligning with 50 EMA and 100 EMA.

PI/USDT 4-hour chart

For now, the moving average convergence deviation (MACD) is above the center line, indicating the speed of strong boom. Additionally, green histograms are growing, short -term rapidly increasing outlook.

Therefore, dismissing a large-to-precedent rally before $ 0.80 may be prematurely in the coming days, especially indicated on the declaration of a major ecosystem for 14 May with the PI core team.