Key Insights:
- Pi Coin surged 6% to $0.60, breaking the trendline after touching a $0.665 peak.
- RSI flagged overbought before MACD formed a death cross near $0.665.
- Banxa purchased 30M Pi tokens, driving bullish momentum above $0.60.
Pi Coin price surged $0.60 after reaching a local high of $0.665. The breakout came after several failed retests of a key downtrend. Amid this bullish Pi coin news, crypto analyst Coinvo suggested that the token broke a multi-week trendline.
He also highlighted that the bullish momentum is returning. Analysts showed three failed touches before the bulls pushed above resistance. The rally was further boosted by Banxa’s recent acquisition of over 30 million PI tokens.
The broader crypto market has strengthened, with Bitcoin rising above $83,000. This development supports Pi Coin’s outlook through macro and fundamental factors.
Banxa Purchase Fuels Bullish Pi Coin News
One of the most significant updates in Pi Coin news this week involved Banxa. This development highlights its growing influence in the crypto space. The global payment processor confirmed it bought over 30 million PI tokens.
This purchase significantly tightened the circulating supply and enhanced institutional confidence in the ecosystem. Over 1.2 million tokens were resold just two days after the deal.
Interestingly, Banxa’s partnership aligns with Pi Network’s goals to boost real-world payment solutions. By onboarding a trusted payment provider, the network is increasing its utility. The result has been an apparent uptick in buyer sentiment and accumulation across trading platforms.
Strategic acquisitions like this often precede major price moves. With supply reduced and a partner like Banxa on board, Pi Coin News reflected a network growing in credibility. This drove investor interest and helped Pi maintain levels above $0.60 after the breakout.
Trendline Breakout Confirms Technical Shift
The breakout captured by Coinvo marked a turning point in Pi coin news. The token had been trending lower since mid-March, touching a key descending trendline three times before breaking it. Recently, the price broke through resistance and hit $0.665 before leveling at $0.60.
Additionally, technical confirmation supported the move. RSI moved out of oversold levels as the price climbed. Around the same time, MACD flashed a golden cross, further validating bullish action.
A MACD death cross formed near the $0.665 peak. However, the price held above the breakout zone. Resistance at $0.5460 remained strong.
The $0.60 and $0.665 area has emerged as a significant consolidation range. If there is a bullish volume, there is a high chance it will break the $0.675 resistance.
Wider Crypto Rally Supports Pi Coin Surge
Pi coin news this week also reflected a broader shift across the crypto market. Bitcoin rose above $83,000, and Ethereum surged past $1,600.
These moves followed macro-level changes, including trade tariff rollbacks and updated U.S. tax guidelines. Investors returned to risk assets, boosting demand across the board.
Pi coin price surge came as confidence returned to digital assets. Investors favored tokens with growing ecosystems and strategic partners. The token benefited from this shift, particularly as its utility-based roadmap became clearer.
The Banxa acquisition and the Pi community’s response suggest a more mature phase for the project. Pi coin news has become increasingly bullish, with macro factors supporting inflows and a strong market structure.
Indicators Signal Strength and Reentry Zones
Notably, April 10 saw continued movement in Pi Coin’s indicators. The MACD formed a golden cross early in the day, suggesting a bullish direction.
The price increased to $0.665, and the RSI crossed the overbought levels. It confirmed high interest, but temporary burnouts followed.
MACD has formed a death cross, meaning its short-term momentum is weaker than the MACD line. This brought RSI back to the middle of the range, meaning that bulls could enter back into the market.
In the meantime, Pi coin price should stay near the next level, which is $0.675. If the price stays above the broken resistance level, it remains intact.
Currently, Pi ranks high on the technical levels of supply and strength while experiencing never-ending demands. This could cause an upward move if the current trend is sustained.