Is Pi Network Price Ready to Moon? Crypto Bull Run Sparks Fresh Predictions

The crypto market has somewhat come to a standstill after the massive bloodshed that happened after US President Donald Trump took the seat. This not only caused most crypto prices to drop but also instilled negative sentiments. The Pi Network price also fell victim to this, as its value dropped by over 37% in the last month. 

Pi’s price today stands at $0.6349 with a market capitalization of over $4.4 billion. However, the entire scenario might change soon. World Of Charts, a popular crypto analyst, recently posted a tweet highlighting a notable development. As per the tweet, the total crypto market capitalization broke above a falling wedge pattern. This suggested that the bulls are ready to take over, which can result in a crypto bull run, in turn helping the Pi Network price to rise again. 

What Pi Network Price Analysis Suggests…

Since the analyst pointed at a possible bull breakout soon, let’s take a look at Pi Network’s current state to understand whether it’s also preparing for the same. The Pi Network price chart revealed that the price broke above a similar falling wedge pattern a few days ago.

However, after that, it has entered a non-volatile zone, as depicted by the narrow Bollinger Bands. Therefore, if the crypto market turns bullish, the Pi Network price might break the upper resistance of the Bollinger Bands and enter a high volatility zone. Nonetheless, this might take a few days or weeks more to happen. 

Decoding Pi’s Upcoming Targets

Notably, since the Pi price dropped over the last month, market sentiment around it has also turned bearish. For instance, the token’s weighted sentiment remains in the negative zone. Pi, which created a lot of buzz recently, witnessed a massive decline in social dominance during the same period. Nonetheless, in case of a fresh crypto bull run, market sentiments might pivot. 

In a utopian scenario where the crypto market actually explodes, the Pi Network price has to cross a few barriers, though. Mentioning Pi Network price prediction, in case of a bullish market switch, it will be crucial for Pi price to first go above its strong resistances at $0.65 and $0.7. This will allow the token to target $1.5 next. Going further ahead, if market conditions remain favorable, the Pi price might as well go beyond $3 in case of a continued crypto bull market. 

To Conclude

Right now, the Pi Network price is facing trouble and seems to have a bearish sentiment around it. However, there are possibilities of an upcoming crypto bull run to change this. Should the momentum build for the Pi price to thrive, the following hike in investor confidence could see some optimistic targets hit.