- Pi Network has outperformed the broader crypto market, fueled by bullish chart patterns indicating a possible 44% rise to $1.13.
- The integration of Pi Coin into Chainlink’s LINK Data Streams has enhanced its utility, providing real-time pricing data for decentralized applications (dApps).
The Pi Network token has witnessed an upward swing again, with its price shooting more than 33% on the weekly chart while eyeing additional gains amid the Chainlink integration. This collaboration has sparked optimism about Pi Coin’s potential adoption by major centralized exchanges. Some market analysts have stated that the Pi Coin price could rally further to $3 and beyond.
Pi Network and Chainlink Integration
In a major announcement, blockchain platform Chainlink announced the inclusion of the Pi Coin in the LINK Data Streams alongside 21 other crypto assets. Market analysts believe that this could trigger a parabolic surge for the Pi Network token moving ahead.
The Pi Network community has enthusiastically welcomed the integration, with analyst MrSpockApe suggesting that it will significantly enhance Pi Coin’s utility within the Web3 ecosystem. The analyst noted:
With this move, Pi Network and its cryptocurrency PI are part of Chainlink’s data feeds that will allow decentralized applications (dApps) to access reliable on-chain pricing data for Pi token.
The Chainlink Data Streams deliver real-time price updates, simplifying the trading of options and derivatives for crypto investors. As highlighted in our previous story, this integration could further drive Pi Network’s price recovery to a new all-time high above $3.
Additionally, some analysts believe this development enhances the likelihood of the Pi Network token securing listings on major centralized exchanges like Binance, Coinbase, and Kraken.
Is Pi Coin Ready For Mega Rally?
Pi Coin price has bounced back sharply from the lows of $0.40 earlier this week. With a nearly 40% pump in the last 24 hours, market analysts are hopeful that Pi Network can soon gain traction, hitting fresh highs ahead.
At the time of writing, Pi Coin is trading at $0.75, outperforming the broader crypto market over the past week. On the four-hour chart, the altcoin has formed a rounding bottom pattern, often signaling the potential for a 44% rally to $1.13.
Should Pi Network’s price successfully break above the $1.12 resistance level, it could ignite a robust bullish trend, setting the stage for a potential surge toward the breakout target of $3. On the other hand, technical indicators are flashing mixed signals for the Pi Network price prediction.
The Pi Coin RSI is rising once again, reaching 65 levels while highlighting its bullish momentum. As per the image below, the MACD line is nearing a bearish crossover with the signal line, which, if confirmed, could generate a sell signal and potentially erode the recent gains.
The Pi Network token continues to gain traction, bolstered by its recent integration with Chainlink, which edges it closer to potential listings on major crypto exchanges. If this materializes, a breakout could be imminent. While one analyst envisions a Pi Coin surge to $10, a more achievable near-term target appears to be $3.
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