Pi Network’s native token has somewhat defied the monthly crisis in the cryptocurrency markets. It’s down by 3%, but this is quite insignificant compared to other digital assets, such as BTC, ETH, BNB, and SOL, all of which have plunged by more than 15% in the same timeframe.
On a weekly scale, PI has even climbed by 13%, which has positioned it as the 59th-largest cryptocurrency by market cap as of press time. Consequently, we decided to ask ChatGPT about what could lie ahead in the next week for the token.
What’s Next for PI?
Perhaps a significant portion of PI’s latest gains could be attributed to some of the updates announced by the team in the past few weeks. The first involved the Pi App Studio, which aims to allow newbies as well as more advanced developers to enhance the editing procedures for their applications.
Another update outlined earlier this week came in the form of a partnership between Pi Network and CiDi Games, which targets the gaming audience. Aside from these fundamental upgrades within the ecosystem itself, which are likely to impact the underlying asset, ChatGPT also highlighted the technical aspects of PI.
It said that the token holds firmly above the first short-term support at $0.23, as buyers have “repeatedly stepped in during dips.” However, the key resistance remains around $0.26-$0.27, which was tested in October but didn’t give in for long.
If PI breaks through this resistance, ChatGPT said it will head into a prolonged bull phase, with targets of up to $0.33 in the next week or so. Another rejection, though, could lead to a new drop to $0.20, especially if the $0.23 support cracks.
Gradual Upside Predicted
OpenAI’s solution believes PI is among the few altcoins that target “gradual upside” rather than explosive but short-term rallies, which have happened in the past but each resulted in a subsequent and violent correction.
It described PI as “one of the most resilient tokens in the market, and technicals suggest it may continue outperforming other altcoins.” The most likely scenario for the following week would be a sideways trading phase between $0.24 and $0.28.
The bull case envisions a surge to the $0.33 target mentioned above, while the worst-case scenario, unless there’s a black swan event, would be a dip to $0.23. For now, though, ChatGPT remains optimistic about PI’s future price moves, saying, “as long as it holds above $0.23, the path toward $0.28-$0.20 remains open.”