Pi Coin (PI) has experienced notable recent volatility. The digital asset posted an impressive 30% weekly rally. This move coincides with progress in its mainnet migration. Furthermore, the market’s reaction to a false rumor highlighted the token’s sensitivity. The Pi Coin price increase mainnet migration continues to capture investor attention.
The volatility was amplified by false news. The original source was a community post briefly circulated through the OKX news feed, which erroneously claimed SWIFT integration.
Pi Coin’s price reached a recent high of $0.2933 on Monday. This move represented an increase of over 37% from its monthly lows. The price seems to have found solid support in the $0.20 to $0.21 zone. Although the initial momentum came from unverified information, the network’s actual data is positive. The project has onboarded 3 million new users to its mainnet. With this, the total number of migrated users reaches 24 million.
The recent rally, though triggered by a rumor, underscores a key fact. The Pi Network community remains very active and reactive to any catalyst. The false news alleged supposed ISO 20022 compliance and SWIFT integration. Although it was proven to be just community speculation, the price reacted strongly. This demonstrates the strong expectation surrounding the project as it moves toward a fully open and operational mainnet.
Can Pi Coin’s Price Break the Key Resistance of $0.42?
From a technical perspective, the PI chart shows mixed signals. The price needs to consolidate the $0.25 level as new support after the pullback. If buyers manage to hold that zone, the next upside targets are $0.294. Subsequently, the next significant liquidity zone is near $0.34. However, the RSI (Relative Strength Index) is nearing 70. This suggests the asset is overbought in the short term. A healthy cooldown might be necessary. The real test of resistance lies in the $0.38 to $0.42 range, a level that has halted previous rallies. The advancement of the project’s digital economy will be crucial.
Pi Coin’s recent performance demonstrates the market’s duality. It combines real community enthusiasm with speculative volatility. As the mainnet migration continues to add millions of users, the price must validate itself. Analysts are watching if PI can hold the $0.25 support. The sustainability of this upward trend will depend on the project’s real advancements and not just rumors. The market awaits to see if the asset can begin a true trend reversal.
