Pi Coin Price Pattern Points to a 150% Surge Ahead of the 2025 Hackathon

The Pi coin price has remained in a bear market this week, hovering near its all-time low as sentiment wanes. This freefall may end this week as the Pi Network token formed encouraging patterns ahead of this week’s hackathon in which developers will demonstrate their creations. 

Pi Coin Price Ripe For a Rebound as Contrarian Patterns Forms

The daily timeframe chart shows that the Pi coin price has slumped for months. This sell-off has been so severe that it did not participate in the recent crypto market bull run that sent Bitcoin to a record high. 

Trend indicators like moving average and the supertrend show that the Pi Network price has more downward momentum to go. The current price is lower than the 25-day moving average of $0.3950. 

Similarly, top oscillators like the Relative Strength Index (RSI) and Stochastic points to more downside. 

However, on the positive side, the Pi coin has formed a large descending wedge pattern that hints at a possible rebound. This pattern, which is shown in green, is made up of two downward-sloping and converging trendlines. A bullish breakout normally happens when these lines are nearing their meeting points. 

Pi Network price has also demonstrated low volatility and low volume, a sign that it is in the accumulation phase. This phase is then followed by the markup, which is made up of higher demand than supply. 

Therefore, the most likely Pi Network price forecast 2025 is where it stages a strong comeback in the near term. If this happens, it means that it can surge by 150% to the psychological point at $1. 

The bullish Pi token will become invalid if it plunges below the all-time low of $0.3225. Moving below that level will be a sign that short-sellers still remain around and are willing to push it much lower.

Pi Hackathon is a Top Catalyst This Week

The main catalyst for the value of Pi this week is that the developers are holding the hackathon event this Thursday. This hackathon builds upon the recent Pi2Day event, in which they unveiled new tools such as the AI Studio and staking. 

The creators hope that participants will build applications that make its ecosystem more interactive. The winner will receive 75,000 Pi tokens currently valued at $26,500.

This hackathon aims to ensure that the Pi Network is not a ghost chain, which it is today, as there are no mainstream applications in the ecosystem. An ecosystem will benefit the Pi coin price by increasing its activity and token burn. These burns will then offset the impact of the token unlocks.

A Pi Network ecosystem will likely be a catalyst for exchange listings by companies like Binance and Coinbase. It may also lead to more Pi Network whale accumulation. 

Summary

Pi coin price has slumped this year. However, this sell-off may be about to end as the coin has formed a falling wedge chart pattern. It is also in the buying stage of the Wyckoff Theory, which is followed by the markup one. 

It is worth noting that Pi Network price has ignored the past major catalysts like the Pi2Day event. As such, it may remain under pressure during and after the hackathon.