The cryptocurrency market has seen a significant decline in recent hours, with the total market capitalization dropping by 10%. Bitcoin has plunged to the $84,000 level. Despite these adverse conditions, Pi Network has maintained an upward trend.
In the last 24 hours, Pi Network has seen a slight price increase of 3.66%. Last week, it reached an all-time high of $2.98, while it is currently trading around $1.73. The weekly chart shows a significant increase of 10.85%, which increased the market capitalization to $11.96 billion and moved Pi Network to 11th place in the overall CoinMarketCap rankings.
Technical indicators suggest a positive trend. The simple moving average (SMA) is below the current trading price, indicating continued growth. The MACD (Moving Average Convergence Divergence) indicator shows that the MACD line is above the signal line, further confirming a positive environment for Pi Network.
Other cryptocurrencies, such as Solana and Onyxcoin, have succumbed to the bearish trend after previous recoveries. For example, Solana has seen a 5% decline in the last 24 hours. This highlights Pi Network’s resilience to current market conditions and increases investor confidence in its potential.