Pi Network Price to Surge 265% Amid Key Mainnet Developments

• PI Network holds above $50 after confirming its Open Mainnet launch for Q1 2025.

• A breakout above $67 could drive gains of over 260%.

The price of PI Network has shown signs of recovery, consolidating near $50 following a significant update from the Pi Core Team. The announcement, issued on January 5, confirmed the long-awaited launch of the Open Mainnet in Q1 2025, sparking optimism among investors and traders.

Key Updates Drive Investor Confidence

The Pi Core Team’s confirmation of the Open Mainnet launch timeline has been a pivotal development for the PI Network community. This transition is expected to significantly enhance the network’s utility by enabling PI coins to be transferred and utilized across various platforms. The increased functionality positions the token to compete more effectively in the broader cryptocurrency market.

In addition, as CNF reported, the Pi Network extended the deadline for Know Your Customer (KYC) verification and Mainnet migration to January 31, 2025. This extension aims to ensure a greater number of users can participate in the network’s growth and address ongoing concerns about inclusivity and accessibility.

Following these announcements, PI’s price experienced a 6% uptick, climbing from a low of $44 on January 4 to $49 by January 5. Market sentiment has shown improvement as traders responded positively to the update despite existing challenges surrounding the KYC process.

Bullish Technical Indicators Signal Potential Surge

Technical analysis of PI’s price movement indicates the possibility of a significant breakout in the coming weeks. The daily chart highlights a well-defined ascending channel, consolidating the price near a key support level of $46.32. This support zone has been tested multiple times, reinforcing its importance as a critical price floor.

Momentum indicators suggest a shift toward bullish dominance. The Relative Strength Index (RSI) is trending upward from a neutral zone, currently at 45.44, reflecting growing buying interest. Meanwhile, the Moving Average Convergence Divergence (MACD) histogram shows a bullish divergence, with higher lows forming despite recent price consolidation.

Key resistance levels for PI lie at $57 and $67. A breakout above $67 could confirm a sustained bullish rally, with the price potentially targeting the upper boundary of the ascending channel at $183.79. This would represent a significant upside of over 260% from current levels, provided market conditions remain favorable and buyers maintain momentum.

Future Outlook for PI Network

The PI Network’s upcoming Open Mainnet launch and the extended KYC deadline underscore its efforts to solidify its position in the cryptocurrency landscape. While challenges such as user onboarding and technical hurdles remain, the recent announcements have reinvigorated market enthusiasm.

If the PI Network continues to deliver on its roadmap, the token could experience a substantial increase in demand, translating into higher prices. Traders and investors are likely to closely monitor developments as the network moves toward its 2025 goals, making PI one of the more closely watched assets in the market.

For those interested in the PI Network’s evolving dynamics, its performance in the coming months could offer valuable insights into its potential as a long-term investment.