Price Analysis

Pi Network Ends 7-Week Consolidation With a Bang, Here’s What Next For Pi Coin

Pi Network price has ended a 7-week consolidation after breaking out of a falling wedge pattern. Is $1 the next target for Pi Coin?
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Pi Network Ends 7-Week Consolidation With a Bang, Here’s What Next For Pi Coin

Highlights

  • Pi Network price targets 30% gains as it ends a 7-week consolidation with a breakout from a falling wedge pattern.
  • A rounding bottom is also visible on the four-hour timefra,e signalling a potential rally to $0.78.
  • As bullish signals emerge, the next target for Pi Network could be a rally past $1.

Pi Network (PI) is on the verge of massive gains to the upside after a bold 15% surge in the last 24 hours. Pi Network price is trading at $0.61 today, June 25, and trading volumes were up by 66% to $196 million. The uptrend has broken Pi Coin out of a seven-week downtrend, and buills are now eyeing how high it can go and whether a rally to $1 is on the cards.

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Pi Network Price Breaks Falling Wedge Resistance

Pi Coin price has been on a massive bull run in the last three days. During this time, the price has moved from a multi-week low of $0.47 to hit a weekly high of $0.62, per CoinMarketCap data. This rally has led to a decisive close above the upper boundary resistance of a falling wedge pattern.

A falling wedge pattern usually indicates that the downtrend is growing weak and bulls are attempting to take control of the price action. However, the bullishness of this pattern is only confirmed when the price moves above the upper boundary.

Currently, Pi Network price has formed a strong 4-hour candlestick above this upper boundary resistance, indicating that the breakout is strong. This means that bulls now have control over the coin’s future price movements. This setup mirrors a previous article by CoinGape, noting that Pi Coin price may rally if there is de-escalation in the Iran-Israel conflict.

The target price from this bullish breakout is a 30% rally that mirrors the height of this pattern from the May 17 swing low of $0.66 to the May 21 swing high of $0.86. If Pi Network were to surge by 30% from its current price, it could very easily reach $0.78.

Pi Network Price Forms Falling Wedge (Source: TradingView)

However, this bullish Pi Network price forecast is dependent on bulls supporting the price above the falling wedge upper boundary. If this resistance falters, it is possible that this rally fails to continue.

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Rounding Bottom Matures, Confirms Pi Coin’s 30% Surge

Besides the bullish falling wedge pattern, a rounding top has also matured on the four-hour timeframe, which also confirms that a bullish reversal is imminent. Similar to the falling wedge, Pi Network has made a decisive close above the neckline resistance level.

From this breakout point, this rounding bottom could kickstart a 28% rally for Pi Coin price, which is also similar to the falling wedge target. This suggests that Pi Network could soon hit $0.78.

PI/USDT: 4-Hour Chart (Source: Tradingview)

The RSI is showing a positive momentum with the reading of 81, confirming that bulls are fully in control. However, this also calls for caution as it signals that PI is about to become overbought, leading to a short-term downward correction.

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What’s Next for PI?

The bullish technical structures that are building around Pi Network price confirm that a bullish reversal is currently underway. After sellers were exhausted following the recent drop to multi-week lows, buyers have stepped in and are driving the price upwards above key resistance levels.

The next path for Pi Coin is likely a move past $1. If buyers can sustain the momentum and profit-taking traders steer clear of the market, it is possible for such a rally to occur.

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Frequently Asked Questions

Why is Pi Network price up today?

Pi Network price is up today because of a recovery across the broader crypto market. A spike in buy-side activity is also driving gains.

Can Pi Coin sustain its gains?

Pi Coin can sustain its gains if it continues to form a decisive close above the upper resistance of a falling wedge and rounding bottom pattern.

What’s next for Pi Coin after consolidation breakout?

After breaking out of the seven-week consolidation, Pi Network price could soar by nearly 30% in the near term.
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muthoni

Muthoni Mary is a seasoned crypto market analyst and writer with over three years of experience decoding blockchain trends, price movements, and market dynamics. She holds a Bachelor’s Degree in Commerce (Finance) from Kenyatta University, blending a solid academic foundation with a sharp eye for technical analysis and a deep understanding of on-chain data. Her work delivers clear, data-driven insights that empower investors to navigate the fast-evolving digital asset space with confidence. When she’s not analyzing the markets, Mary enjoys reading and travelling.

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Why trust CoinGape: CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journalists and analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
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