Pi Token (PI) is once again back in the spotlight. The cryptocurrency, known for its community-driven model and speculative interest, has shown a glimmer of recovery over the past few days. With a 20% gain in less than a week, it has caught the attention of traders hoping to see it rally past the key $0.90 resistance level. But despite this recent momentum, the path forward for PI remains uncertain. The token’s next move could very well depend on broader market trends—especially the performance of Bitcoin, which is eyeing record highs once again.

In the last 24 hours, PI saw a modest 14% price bump, accompanied by a 17% rise in Open Interest. These numbers suggest growing interest among speculative traders who might be positioning for a breakout. While this shift appears encouraging at first glance, the overall market sentiment is still cautious. The funding rate has barely moved above zero, which means there’s not yet overwhelming confidence from traders betting on a major upward move.

Market observers note that Bitcoin’s ongoing attempt to reach a new all-time high could play a pivotal role in shaping PI’s trajectory. Historically, when Bitcoin enters a bullish phase, altcoins tend to follow suit—often with even greater volatility. If Bitcoin succeeds in breaking past its current resistance levels, the increased attention and liquidity could spill over into smaller tokens like PI, potentially pushing it beyond the $0.90 mark.

From a technical standpoint, Pi Token presents a mixed picture. The daily chart indicates that while the token has bounced back from recent lows, it is still facing strong resistance. Earlier this month, PI had surged all the way to $1.60 before retracing sharply. This retracement brought the price below the 78.6% Fibonacci retracement level—a significant technical point that often acts as a strong support or resistance. Despite this setback, PI has managed to reclaim the $0.80 level, a promising sign for bullish traders.

Another encouraging factor is the performance of certain volume and momentum indicators. The Chaikin Money Flow (CMF) has stayed above the +0.05 level for over ten days, suggesting continued capital inflow. Additionally, the Accumulation/Distribution (A/D) line is trending upward, which usually signals steady buying pressure. These signs are generally positive, indicating that there is still some underlying demand for the token, even if the momentum is not yet strong enough to push it over the $0.90 resistance.

However, the short-term charts tell a slightly different story. On the 4-hour timeframe, there is a clear resistance zone at $0.90, formed by a previous bearish order block. This area has become a battleground for bulls and bears, with neither side able to gain the upper hand yet. In this timeframe, volume indicators have turned neutral. The CMF and A/D line are showing flat trends, and the MACD has not yet made a bullish crossover above the zero line—signs that the token lacks the immediate strength to force a breakout.

For Pi Token to break above $0.90 with conviction, several key conditions must be met. Firstly, trading volume needs to rise significantly to confirm that the rally is backed by genuine interest rather than short-term speculation. Secondly, the MACD indicator on the 4-hour chart needs to turn bullish to reflect growing momentum. Thirdly, Bitcoin must continue its upward trend to maintain a positive environment for altcoins. And finally, PI must hold the $0.80 support zone, which has become a crucial level for sustaining any future rally.

In conclusion, Pi Token is at a critical point. The recent recovery has provided hope, but the token still faces a significant test ahead. Without a surge in demand and favorable conditions in the broader market, PI could remain stuck below $0.90. However, if Bitcoin continues to climb and altcoin interest rises, PI may soon find the strength it needs to break through resistance and head toward the $1.00 mark. For now, traders are watching closely—and waiting.