PI Coin has been making headlines with an astonishing 92% surge over the past week, capturing the attention of traders and crypto enthusiasts alike. The sudden rise comes as investors gear up for a highly anticipated update from the Pi Network, scheduled for May 14. This momentum has pushed PI into a crucial trading zone, with analysts debating whether it will break higher or face a near-term correction.

Over the past month, PI has steadily climbed, gaining more than 51%, but the last seven days have been exceptional. The run-up is largely fueled by optimism surrounding the upcoming ecosystem update, which many believe could further boost the coin’s value. Previous upgrades within the Pi Network have often triggered price rallies, and market watchers are expecting history to repeat itself.

Currently, PI is trading within a critical supply zone—a price range where selling pressure typically emerges. However, unlike traditional patterns where a pullback follows, PI’s price remains firm. This suggests bullish pressure is outweighing sell-side interest, at least for now. Adding to the intrigue is a candlestick pattern known as the “long-legged green doji,” which indicates indecision in the market. Despite this uncertainty, it seems that many traders view this level as a good buying opportunity rather than a reason to sell.

If bullish momentum continues, technical analysis suggests PI could first rally to $1.82, marking a 49% increase from its current level. Beyond that, a broader move toward $3 is also on the table, representing a potential 146% gain. However, failure to break through this resistance zone could push the price back down toward the $1 area, a key demand zone that has previously acted as strong support.

Technical indicators offer a slightly mixed outlook. On the bullish side, the Average Directional Index (ADX), which measures trend strength, is rising along with PI’s price. This alignment indicates that the current uptrend has momentum and may persist in the near term. However, the Relative Strength Index (RSI) tells a different story. With the RSI entering overbought territory, it signals that PI may be overvalued in the short term, increasing the likelihood of a consolidation phase or minor correction before the next big move.

Community sentiment remains overwhelmingly positive. Data from CoinMarketCap shows that nearly 90% of investors are still bullish on PI, expressing confidence in the token’s potential for further gains. Historically, strong community support has played a major role in driving PI’s rallies, and many are hopeful that the upcoming update will deliver another wave of price appreciation.

Nonetheless, a subtle shift in investor behavior suggests a note of caution. While sentiment remains strong, enthusiasm appears to have cooled slightly compared to previous highs, especially as the price approaches more resistant levels. This doesn’t mean the rally is over, but it does imply that some traders may be waiting for confirmation before committing further.

With the May 14 update just around the corner, all eyes are now on how the market reacts. If the statement brings the kind of innovation or utility investors expect, PI could very well break through its current resistance and start a fresh leg up toward the $3 milestone. On the other hand, any disappointment or external market volatility could trigger a pullback.

For now, PI Coin sits at a critical crossroads—poised either for a breakout that could double its value or a correction that will test the strength of its recent gains. Investors are watching closely, and the next few days will likely determine whether PI’s rally is just beginning or nearing its peak.