Will Pi Coin (PI) Exceed $0.10 Again? Rising Signal 'Stirs' with Open Standard Partnership

▲ Pi Coin (PI)/ChatGPT generated image ©

Pi Coin (PI) has rebounded for two consecutive days and is holding above its 50-day Exponential Moving Average (EMA) of $0.0917, drawing attention to the possibility of another attempt to break past $0.10. With the partnership with Open Standard emerging as new impetus, technical indicators are also showing a gradual upward momentum.

According to investment specialized media FXStreet on October 1 (local time), Pi Coin traded at approximately $0.0919 during Thursday's session, slightly above the 50-day EMA of $0.0917. Although it saw a slight decline today after closing higher for two consecutive days, it maintains its key short-term support level. However, it is still significantly below the 100-day EMA of $0.1004 and the 200-day EMA of $0.1294, indicating that mid-to-long-term resistance has not been fully resolved.

The factor stimulating upward expectations is the partnership between the Pi Core Team and Open Standard, the issuer of Open USD (OUSD). OUSD is an open infrastructure-centric stablecoin jointly operated by partners, launched on Wednesday on Ethereum (ETH), Solana (SOL), Base, and Tempo. It has also secured over $1 billion in liquidity provision commitments from founding participants including Visa, Stripe, and Google. While specific cooperation details have not yet been finalized, the Pi Core Team announced plans to review an OUSD reward program for Pioneers and utilization strategies across the entire Pi ecosystem.

Technically, the area around $0.10 is considered the most crucial turning point. With the 100-day EMA at $0.1004 and the 50% Fibonacci Retracement based on the decline from $0.1341 to $0.0704 located at $0.0990, this forms a resistance zone with the psychological resistance level of $0.1000. A definitive break above this area could signal a trend reversal, with the 78.6% Fibonacci Retracement at $0.1204 and the 200-day EMA at $0.1294 identified as the next resistance levels.

Momentum indicators also show gradual improvement. The daily Moving Average Convergence Divergence (MACD) is slightly above the 0-line, maintaining a positive histogram. The Relative Strength Index (RSI) is around 52, slightly above the neutral level. This indicates improving buying momentum, but analysis suggests it is not yet strong enough to break through the major resistance levels positioned above.

In case of a decline, the 50-day EMA at $0.0917 is the first support level. If this price breaks, the 23.6% Fibonacci Retracement located at $0.0867 could act as a more significant structural support. Conversely, if the resistance cluster between $0.0990 and $0.1004 is overcome, further upside potential towards $0.1204 and $0.1294 opens up. Therefore, the short-term direction of Pi Coin is analyzed to depend on whether it breaks past $0.10.

*Disclaimer: This article is for investment reference only, and we are not responsible for any investment losses based on it. The content should be interpreted for informational purposes only.*