Is Pi Network About to Explode? Bollinger Bands Hint at Imminent Breakout

Pi (PI) has seen its price rise by 0.6% in the past 24 hours to sit at $0.5818 as the latest selling pressure cools down.Trading volumes have dropped significantly, now sitting at just $38.4 million – a stark contrast to the nearly $1.5 billion traded in a single day in early April.Lower volume typically suggests waning trader interest, and the price is now consolidating in a narrow range – a setup that often precedes a major breakout.With volatility likely to return, our full Pi Coin price prediction explores whether the next move will push PI toward a fresh high or deeper support.PI’s circulating supply has been expanding rapidly as more tokens are unlocked and more mainnet migrations are completed by PI token holders. This is a factor that favors a bearish Pi price prediction.The project’s monthly unlock schedule indicates that 223 million PI will be added to the circulating supply this month while nearly 455 million tokens will be added in May and June. This implies a 6.5% supply expansion in just two months.Meanwhile, the token’s prospects have also been affected by the reluctance of top exchanges like Coinbase and Binance to list PI as they refuse to go through the network’s complex Know Your Business (KYB) protocols.Pi Coin Price Prediction: Tight Consolidation Signals Explosive Breakout Ahead for PIA popular indicator known as the Bollinger Bands shows significant price compression as the upper and lower band of the indicator are the tightest they have ever been since the Pi Network public mainnet was launched.The price action appears to favor a bullish outcome thus far as the token has moved above the upper Bollinger with strong trading volumes.A break above the $0.6000 level would favor a bullish outlook for Pi while the key support to watch currently sits at $0.5700 – the token’s nearest lower low.Momentum indicators are favoring a bullish outcome as well in the hourly chart as the Relative Strength Index (RSI) has been trending higher and currently stands above its 14-day simple moving average (SMA).Meanwhile, the MACD’s histogram is still in positive territory and has been trending higher lately as well.If PI breaks above its 200-hour EMA, this would confirm a strong bullish push that could propel the token to the $0.7000 area.For traders keeping an eye on early-stage opportunities, presales like BTC Bull Token (BTCBULL) are also gaining attention, especially as market conditions hint at the start of a new bullish cycle.BTC Bull Token (BTCBULL) Soars Past $5.4M as Investors Flock to This Bitcoin Passive Income PlayBitcoin (BTC) is once again approaching the $100,000 level and investors now have another way to profit as the top crypto rises to new heights.BTC Bull Token (BTCBULL) is a meme coin with an attractive use case. It provides passive income to token holders as the price of Bitcoin rises.Starting at a baseline price of $100,000, BTCBULL holders are set to earn rewards every time Bitcoin gains another $25K.The first milestone is $125,000, where a portion of BTCBULL’s circulating supply will be burned – a move designed to increase scarcity and drive up the token’s value.At the $150,000 mark, holders will unlock even bigger benefits, including a direct Bitcoin airdrop – adding serious incentive as BTC pushes toward new highs.To buy $BTCBULL, simply head to the BTC Bull Token website and connect your wallet (e.g. Best Wallet). You can either swap USDT or ETH or use a bank card to invest.The post Is Pi Network About to Explode? Bollinger Bands Hint at Imminent Breakout appeared first on Cryptonews.