- Pi Network has managed to exhibit a modest price increase of 3.66% in the last 24 hours.
- The altcoin’s not succumbing to current bearish market conditions has caught investors’ attention.
The cryptocurrency market has crashed tremendously in the past few hours, with a 10% slide in overall market cap. This has raised controversy among community members, as they allege Trump of staging a rug pull with his recent announcements. Bitcoin has once again fallen to the $84,000 level.
One prominent critic and economist, Peter Schiffs, has demanded an investigation into Trump’s friends and family and their trading activities. Meanwhile, one chief player has remained bullish despite testing times over the past weeks. Pi Network has not succumbed to the bearish environment and is showing modest gains.
Inferring its daily price chart, Pi Network shows a modest increase of 3.66% in the last 24 hours. The altcoin also hit an all-time high of $2.98 last week. It is currently trading in the $1.7 range after minor dips amid fluctuations in the past day. At the time of writing, Pi Network was trading at $1.7301 as per CMC data.
Moreover, its weekly chart shows a significant 10.85% surge despite the high volatility. Additionally, the altcoin has also seen a surge in its market cap reaching a significant $11.96 billion. This has resulted in Pi Network ranking 11th in the overall CMC leaderboard and has boosted investor confidence.
Will Pi Network Sustain the Positive Momentum?
On analyzing technical indicators, Pi Network’s Simple Moving Average stands below the current trading price as per TradingView data. Owing to recent upward momentum, the altcoin has managed to crossover to a positive price trend.
Secondly, its Moving Average Convergence Divergence (MACD) MACD line stands above the signal line. This further highlights Pi Network’s positive environment. If the cryptocurrency sustains the upward trend it might witness a full-fledged bullish run.
Meanwhile, other cryptocurrencies such as Solana and Onxycoin have succumbed to bearish signs after recovery in the past day.
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