Top 3 Gainers PI, KAS, PNUT: Pi Network leads altcoins surge on renewed risk-on sentiment

Pi Network surges 105% in 12 days to $1.25 ahead of a major ecosystem announcement. Kaspa extends gains buoyed by trader confidence in the uptrend, aiming for $0.18. PNUT’s upward trend holds steady above $0.40 despite extremely overbought conditions. The cryptocurrency market continues the macro-triggered bull move on Monday after a reassuring weekend supported by multiple catalysts, including the trade agreement between the United States (US) and the United Kingdom (UK), trade talks between the US and China, as well as a ceasefire and easing border tensions between India and Pakistan. Remarkable double-digit gains in altcoins such as Pi Network (PI), Kaspa (KAS), and Peanut the Squirrel (PNUT) reflect a broad-based risk-on sentiment likely to keep prices elevated this week. Pi Network’s price explodes as trader confidence soars Pi Network’s price upholds a strong bullish momentum backed by a favourable macro environment and anticipation ahead of a major ecosystem announcement expected on May 14. The token has, in the last 12 days, rallied 105% to trade at $1.26 at the time of writing. PI’s position above the 50- and 100 Exponential Moving Averages (EMAs) on the 12-hour chart implies that the uptrend could last longer than anticipated. A buy signal from the Moving Average Convergence Divergence (MACD) indicator encourages traders to hold their positions. Moreover, the expanding green histograms above the centre line reveal growing bullish momentum for PI, likely to break the immediate resistance at $1.35 and extend the up leg to $1.80, a seller congestion level tested last in March. PI/USD 12-hour chart On the other hand, the extremely overbought Relative Strength Index (RSI) indicator at 91.61 suggests that Pi Network may be due for a short-term pullback or even consolidation. Kaspa breaks key trendline resistance Kaspa’s price sits on top of a crucial five-month trendline resistance, accentuating the growing bullish influence in the wider crypto market. After an impressive 134% increase from the tariff-triggered crash to $0.053 on April 7, KAS currently hovers at $0.12, up more than 6% on the day. The daily chart highlights a solid bullish structure with Kaspa’s price above the 50-, 100-, and 200-day EMA. A buy signal from the MACD cements the bullish grip on KAS as bulls knock on the resistance at $0.14 . A breakout above the nearest resistance at $0.14 could trigger a sharp price surge, with KAS aiming for $0.15—a level last seen in January—and potentially Kaspa’s December high of $0.18. KAS/USD daily chart Notably, the Relative Strength Index (RSI) indicator entering the overbought region above 70 hints at a strong bullish momentum. Overbought conditions often precede pullbacks due to potential profit-taking, hence the need for traders to prepare for different outcomes, including a retest of the 200-day EMA at $0.10 and the 100-day EMA at $0.09. Peanut the Squirrel consolidates gains Peanut the Squirrel’s price hovers close to the weekend high of $0.46, reflecting a slight drawdown on the day. The tailwind behind the token comes amid heightened interest in meme coins. Based on the daily chart, PNUT remains strongly bullish on Monday, sitting on top of the 50-day ($0.26) and the 100-day EMAs ($0.29). The MACD indicator shows a bullish setup with the MACD line (blue) above the signal line (red), expanding green histograms above the centre line. PNUT/USDT daily chart The RSI indicator is at 79.64, having peaked at 84.96 on Friday, indicating overbought conditions. Overbought conditions are often a precursor to a pullback, with PNUT likely to pull back toward the 100-day EMA at $0.29 in search of support and liquidity. Cryptocurrency prices FAQs Token launches influence demand and adoption among market participants. Listings on crypto exchanges deepen the liquidity for an asset and add new participants to an asset’s network. This is typically bullish for a digital asset. A hack is an event in which an attacker captures a large volume of the asset from a DeFi bridge or hot wallet of an exchange or any other crypto platform via exploits, bugs or other methods. The exploiter then transfers these tokens out of the exchange platforms to ultimately sell or swap the assets for other cryptocurrencies or stablecoins. Such events often involve an en masse panic triggering a sell-off in the affected assets. Macroeconomic events like the US Federal Reserve’s decision on interest rates influence crypto assets mainly through the direct impact they have on the US Dollar. An increase in interest rate typically negatively influences Bitcoin and altcoin prices, and vice versa. If the US Dollar index declines, risk assets and associated leverage for trading gets cheaper, in turn driving crypto prices higher. Halvings are typically considered bullish events as they slash the block reward in half for miners, constricting the supply of the asset. At consistent demand if the supply reduces, the asset’s price climbs.