Pi coin has experienced a remarkable surge of nearly 80% in the past 24 hours, reaching a record high of $2.99. This rise coincides with a significant surge in trading volume, exceeding $3.2 billion, according to crypto price tracker crypto.news. The token is currently trading around $2.95 after earlier dipping to $1.65 within the same 24-hour period. This unexpected spike contradicts the broader cryptocurrency market’s ongoing decline, with Bitcoin experiencing a drop below $85,000. 80% of the price increase occurred in less than 1 hour. Technical analysis shows a neutral to slightly bullish bias on the Pi Network chart. The 5-minute chart displays fluctuating prices around the 9-EMA, acting as both support and resistance. The RSI (14) at 55.60 indicates neutral momentum with neither overbought nor oversold conditions. Key levels for observation include $3.00 as resistance and $2.90 as support. Holding above the 9-EMA could propel Pi toward $2.95-$3.00, while a drop below $2.90 may indicate a shift in momentum towards bearish.