Pi Network rallied hard in the past week. How high will it go?

Key Support levels: $1.4, $1

Key Resistance levels: $1.7, $2

1. Price Explodes

In the past week or so, PIs price has exploded and almost tripled. It went from $0.6 to almost $1.7. A pullback here is likely considering this huge rally in such a short amount of time. If buyers cannot break the resistance at $1.7, then PI may fall to the $1.4 support.

Chart by TradingView

2. Indicators are Overbought

The daily RSI is placing PI at 88 points out of a maximum of 100. This puts Pi Networks native token in the overbought area. If a correction indeed follows, then the support levels at $1.4 and $1 will be the most likely candidates to stop any future downfall.

Chart by TradingView

3. Buy Volume Goes Exponential

One of the reasons PI managed such an impressive rally is that its buy volume went exponential within a few days. Bulls came in force, and such volume was not seen since the price bottomed in early April at $0.4.

Sustaining such a rally over time is hard, therefore it is important to be cautious whenever the volume stops making higher highs.

Chart by TradingView