Pi Coin price holds above the $1 psychological level at $1.19 as the anticipation grows around Pi Network’s major ecosystem announcement today. Additionally, the project’s founder is set to speak at the ConsenSys event, where he could reveal an update regarding Pi Network. In anticipation of this update, Pi Coin price targets a major breakout rally that could push it past the $3 mark. Further supporting this uptrend and bullish sentiment is the core team’s move to close the central node ahead of open-source release.
As the project appears ready, both the mining and browser apps get key updates on the Google Play Store. Will Pi Network’s token price gain momentum with an optimism spark in the Pi community?
Here’s Why Pi Coin Price Could Break $3
Pi Network prepares for a parabolic rise as anticipation peaks around the latest ecosystem announcement on May 14. Further, the upcoming Pi Network’s founder speech at the highly anticipated ConsenSys 2025 event will bring global recognition. ConsenSys serves as a global stage for crypto innovations. This year, a keynote from Pi Network’s founder could provide deep insights into Pi’s transition to open source and its decentralization roadmap. The growing buzz before ConsenSys talk adds momentum to the Pi Coin rally above $1, hinting at the next big move crossing the $3 milestone.
Pi Coin Price Analysis Reveals 42% Upside Potential
Pi Coin price surged nearly 190% between May 6 and May 12 from $0.57 to $1.67, marking a 7-day high. However, the Pi Network’s coin price drops back to $1.19 as it fails to hold above the 61.80% Fibonacci level at $1.43, suggesting the short-term breather phase. At present, the Pi Coin price sustains above 50% of the Fibonacci level at $1.14 with a lower price rejection from $1.122.
The 50 and 100 Exponential Moving Averages (EMAs) have crossed above the 200 EMA, regaining a positive alignment. Furthermore, the MACD and Signal lines are ready for a positive crossover after a minor pullback. Hence, the technical indicators maintain an optimistic viewpoint on the Pi Coin price trend.
Based on the Fibonacci levels, a bounce back in Pi Network price beyond $1.67 could test the 100% level at $2.91. This increases the possibility of Pi Coin reaching the $3 milestone.
Conversely, a bullish failure to hold the 50% Fibonacci level could lead to a steeper correction to the 50 EMA at $0.94, losing the $1 psychological support.
Pi Apps Receive New Updates Ahead of Ecosystem Announcement
As per WoodyLightyearx’s tweet, the Pi Mining App and Pi Browser App have received new updates on the Google Play Store ahead of the ecosystem announcement. The updates are presumed to bring an improved user interface and new backend features to support ecosystem functionalities. Additionally, a groundwork is possible for the mainnet migration.
With the latest updates, the sentiment of the Pi miners and community members is extremely bullish. Many members speculate on smart contract functionalities, dApps, or a full mainnet rollout in the upcoming announcement.
Core Team Shuts Down Core Node, Hints at Source Code Release
The Pi Network team is dropping new developments right before its ecosystem announcement. The Pi core team’s latest tweet, it has shut down its central node ahead of the source code release. It is a major decentralization milestone for the Pi Network, reflecting trust in the distributed community-run network nodes. With the source code release, Pi will become open source. This will enable developers and node operators to inspect, contribute, and innovate on Pi’s codebase.
The post Pi Coin Price Could Break $3 Ahead of Pi Network’s Ecosystem Announcement Today appeared first on CoinGape.
