Pi Network has recently shown signs of recovery by reaching a two-week high following an upward trend. However, the cryptocurrency's growth seems to heavily rely on external influences, particularly Bitcoin's price movements. Hence, Pi Network's future trajectory remains closely linked to how the leading cryptocurrency performs.

Despite a slight dip in bullish momentum, Pi Network's overall outlook remains positive. The Moving Average Convergence Divergence (MACD) indicator indicates that while the bullish momentum is waning, it has not yet turned bearish. This implies that there is still potential for Pi to continue moving upwards in the short term.

Having a strong correlation of 0.84 with Bitcoin implies that Pi Network closely mirrors Bitcoin's movements, with its price direction significantly impacted by the performance of the dominant crypto. Pi Network's price has a chance to rise alongside Bitcoin if the latter maintains its positive trend above $85,000.

Pi Network is currently priced at $0.74, displaying a 26% increase over the past five days. To sustain this positive momentum, it must stay above the $0.70 support level. A successful rebound from this level could propel the altcoin towards testing the next resistance level at $0.87. Breaching this level could set the stage for further gains, potentially reaching $1.00. However, any potential decline in Bitcoin's price might drag Pi Network down. If Pi falls below the $0.70 support level, it could test $0.60 and possibly decrease further to $0.51, signaling a possible change in the bullish trend.