#PI# 🔥

At the time of writing, Pi Coin trades at $0.84, up 8% in the last day and 30% over the past month. Daily trading volume surged more than 150% to $548 million, indicating renewed market interest following a nearly 50% plunge from May 12 to May 17, when it hit a low of $0.69.
PI still sits 77% below its all-time high of $2.99 set in February. Although the recent price recovery shows that bulls are trying to regain control, the road back to $1 is still challenging, especially given some project-specific obstacles,
The technical outlook is mixed but cautiously optimistic. The relative strength index is in the neutral range at 54, meaning that there is neither an overbought nor an oversold condition. Momentum indicators like the moving average convergence divergence exhibit some weakness, displaying sell signals.