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Pi Coin Price Jumps 24% After 10 Million Tokens Left the Exchange – Can the Bull Survive? – Pintu

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Jakarta, Pintu News – The price of Pi coin surged more than 24% in 24 hours on October 27. This sharp rise came after weeks of slow and flat movements that left many investors cautious.
Now, Pi prices seem to be rebounding, as indicated by exchange data that recorded more than 10 million tokens exiting exchanges during October. This nearly 2.4% decrease in supply on exchanges indicates increased accumulation interest from investors.
However, Pi still needs to prove that this surge can last and is not just short-term speculation, given the volatility that has returned.
The price of the Pi coin managed to break out of its long-standing descending channel pattern, signaling a significant change in the market structure after months of being under bearish pressure.
Read also: Pi Network Price Drops 3% Today After Rocketing 24% on Monday
The breakout was supported by a sharp bounce off the historical demand zone in the $0.20 to $0.22 range-an area that had previously managed to stop major sell-offs several times.
The bounce not only indicates strong buying activity, but also reflects the growing confidence of long-term holders who expect further price increases.
Specifically, the price of Pi managed to reclaim the resistance level at $0.2870, which now serves as a short-term pivot point for further upside potential. This level is important because since June it has always been a barrier to any price recovery attempts, and its breakout signals a solid strength of impetus.
The DMI indicator supports this bullish outlook, with the +DI line at 37.45 and staying well above the -DI line, indicating a strong dominance from the buyers’ side. Additionally, the ADX reading at 58.60 reinforces the intensity of the current price action.
This indicator suggests that the rally is not just a momentary bounce, but an upward movement that has strong technical support.
The combination of a new high and increased trading volume confirms that market participants are aggressively accumulating at current price levels.
If the price of Pi is able to hold above $0.23, then technically there is an opportunity towards the $0.40 zone, which is in line with the optimistic long-term price projections and supports a gradual continuation of the uptrend.
More than 10 million Pi tokens exited exchanges throughout October, reducing the available supply by almost 2.4%, according to data from Yahoo Finance.
This decrease in supply reflects increased investor confidence, with holders preferring to hold tokens long-term rather than actively trade them. It also indicates a consistent accumulation process-a factor that often triggers prolonged uptrends in crypto markets.
However, as many as 121 million tokens are scheduled to be unlocked in the next 30 days. This event could potentially add temporary selling pressure, especially if demand weakens. Even so, token reserves on exchanges remain low, indicating that buyers still dominate the spot market.
Read also: XRP Price Prediction: Can the Breakout at $2.6 Trigger a New Rally?
Pi prices also benefited from this tightening supply condition, creating a more stable support zone. Accumulation behavior also remains strong despite the recent price spike.
If demand is able to sustain during the token unlock period, the Pi price has a chance to stay above $0.25 and test the next resistance in the $0.30 range.
The price of the Pi coin is showing renewed strength after several months of slow decline. Outflows from exchanges are a testament to investor confidence, while technical indicators support further upside potential. The next challenge comes from the upcoming token unlock schedule, which could affect short-term sentiment.
However, if the buying pressure remains strong, the price of Pi could potentially continue its breakout rally through the $0.30 level and aim for the next target in the $0.40 range in the near future.
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*Disclaimer
This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Trading crypto carries high risk and volatility, always do your own research and use cold hard cash before investing. All activities of buying and selling bitcoin and other crypto asset investments are the responsibility of the reader.
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