Pi Coin jumped almost 80% in the last 24 hours and reaching a new summit of $ 2.99.
The overvoltage of the PI network (PI) coincides with a huge increase in the volume of negotiation 24 hours a day, which exceeded $ 3.2 billion, according to data from the Crypto.News price tracker.
The token is currently $ 2.95 after previous negotiations as low as $ 1.65 during the same 24 -hour period. The Spike contradicts the continuous decline in the wider market of cryptocurrencies, Bitcoin having fallen below $ 85,000.
On the technical side, Pi shows a neutral bias to slightly bullish. The 5-minute graph shows that the action of fluctuating prices around 9-EMA, which acts both as a support and resistance. The RSI (14) at 55.60 suggests neutral impulse, without conditions of overabundance or occurrence.
The key levels to be monitored include $ 3.00 in resistance and $ 2.90 as a support. Holding above the 9 EMA could push Pi to $ 2.95 to $ 3.00, while a drop below $ 2.90 can go from the momentum.
The PI network remains controversial despite its growing assessment due to the allegations that the project is a pyramidal scheme. Industry leaders such as the CEO of Bybt, Ben Zhou, also criticized the project, calling it a scam. Concerns have also been raised concerning its supply in circulation not verified.
Due to a lack of independent verification, the main platforms such as CoinmarketCap and Coingecko have excluded official rankings, even if the assessment of the Network PI market currently exceeds $ 17.5 billion. In the meantime, greater volatility is expected due to the rumors of a possible list on the Binance.
On February 17, Binance spear A community votes on the opportunity to list PI, with the majority of respondents in favor. The vote should end today, on February 27, after which the exchange will confirm whether or not to list the token. If it is approved, it could serve as a major catalyst for a later price action.
