Pi Network’s price has experienced significant volatility over the past few days, recovering losses briefly before today’s 11% drop.
Despite the sharp fluctuations, the altcoin has remained under pressure, with uncertainty surrounding its price action, even as the Pi2Day event, a major milestone for the network, approaches in two days.
Pi Network Prepares For Pi2Day
The Relative Strength Index (RSI) for Pi Network shows that the broader market’s bullish momentum is strengthening. Investors are likely excited about the upcoming Pi2Day event, which has historically generated significant interest. This annual event is expected to bring key updates to the Pi Network, including a major AI announcement, which is buzzing in the community.
Nicolas Kokkalis, one of Pi’s founders, recently participated in a Generative AI panel at Consensus 2025, hinting that artificial intelligence may play a significant role in the Pi Network’s future. This potential integration of AI has added to the hype, with Pi2Day expected to showcase new features that could drive further investor interest in the platform.
Pi Network’s correlation with Bitcoin is strong, with a 0.71 correlation coefficient, suggesting that Pi is likely to benefit from BTC’s upward momentum. Bitcoin is nearing the $108,000 price point, and this rise in BTC’s value could positively influence Pi’s price.
If BTC continues its upward trend, Pi Network could receive a boost in the short term, helping to support the altcoin’s recovery. But this is a double-edged sword, as any decline in the crypto king’s price could also trigger a correction for PI. Thus, investors should stay vigilant.
Will PI Price Rally Ahead Of The Event?
Pi Network’s price is currently down 11%, trading at $0.56. This drop comes after a 15% rise on Wednesday, which was not sustained. The decline highlights the volatility Pi Network has experienced lately, with the altcoin finding difficulty in maintaining upward momentum despite recent bullish signals.
At present, Pi Network is trading below the $0.57 resistance level, and the next support level to watch is $0.51. If the volatility continues leading up to Pi2Day, the altcoin may test this support level. The uncertainty surrounding market conditions could lead to further declines before the event.
However, if investors turn hyper-bullish and capitalize on the Pi2Day hype, Pi Network could bounce back. Successfully flipping $0.57 into support could pave the way for a rise past the $0.61 and $0.64 resistance levels. This would invalidate the current bearish outlook, signaling potential growth for Pi Network in the coming days.
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