The Pi Network (PI) has experienced a substantial 86% increase in value over the last week, now trading at $1.09. This surge indicates a strong potential for recovery after a challenging April.

The current rise in price is positioning the altcoin to recoup losses from March, as it remains steady above the important $1.00 support mark. Investors are taking note of this recent rally, fueling optimism regarding its future price movements.

Pi Network’s Relative Strength Index (RSI) has surpassed the 70.0 threshold, entering the overbought territory, indicating a potential market reversal due to the saturated bullish momentum. Although overbought conditions often precede market corrections as profit-taking occurs, there is a possibility that PI might sustain its price without a significant drop.

In terms of broader market momentum, the Chaikin Money Flow (CMF) indicator for Pi Network shows strong inflows, remaining above the zero line despite a recent minor decline. While short-term fluctuations may arise, the overall positive market sentiment, as reflected in the CMF reading, suggests that Pi Network’s bullish trend remains intact, potentially supporting upward movement if market conditions continue to favor cryptocurrencies.

Pi Network currently trades at $1.09, up 86% in the last seven days, with robust support at the $1.00 level, a critical point for its future performance. While there are mixed signals from indicators, the chances of PI dropping below $1.00 appear slim. Should it sustain above this level, Pi Network could aim for a target price of $1.34, aspiring towards $1.64 if the bullish momentum persists in the near future.

However, if Pi Network encounters significant selling pressure, breaching the $1.00 support level, it may decline toward $0.87 or $0.78, jeopardizing the bullish outlook and signaling a possible downturn for the altcoin.