$PI Set for Massive Breakout Amidst Bullish Symmetrical TriangleThe long-awaited launch of NASDAQ:PI has ignited excitement in the crypto space. After six years of mining, Pi Coin finally hit the open market last month, and its price action suggests a potential major breakout. With a bullish symmetrical triangle pattern forming and key technical indicators aligning in its favor, NASDAQ:PI is gaining traction among investors and traders alike.
Technical Analysis
Pi Coin is currently trading at $1.66, having surged 22.75% in the last 24 hours. Its 24-hour trading volume stands at an impressive $811,256,445, indicating strong market interest.
Symmetrical Triangle Formation
A symmetrical triangle is often considered a continuation pattern, signaling a potential breakout in the direction of the prior trend. NASDAQ:PI recently broke out of this bullish formation, setting the stage for further upside movement.
The Relative Strength Index (RSI) sits at 62, suggesting increasing buying pressure. An RSI above 70 typically signals overbought conditions, but with room for growth, NASDAQ:PI is positioned for an extended bullish campaign. If buying pressure intensifies, NASDAQ:PI could soon breach the key psychological resistance at $2, with the next pivot point set at $3.
Market Capitalization and Trading Volume
NASDAQ:PI boasts a live market cap of $11.91 billion, with a circulating supply of 7.15 billion coins. Such a high ranking underscores the coin’s growing adoption and market confidence.
Conclusion: What’s Next for Pi Coin?
With strong technical indicators and a solid fundamental foundation, NASDAQ:PI appears well-positioned for continued growth. If the buying momentum sustains, breaking the $2 resistance could open the door for a push towards $3. Meanwhile, its unique approach to mining and real-world adoption potential make it an intriguing project for long-term investors.
