Pi Coin Hits Rock Bottom: Analysts Predict Explosive Rally
Pi Coin fell 20.21% after a harsh month, but market trends and technical indications point to a possible recovery. Amidst growing ecosystem activity, renewed speculation surrounding major exchange listings, and broader altcoin momentum, the token might be ready for a dramatic comeback.
A few points above its all-time low of $0.4010, the Pi Network token was trading at $0.4419 today, July 26. Although the price of the Pi coin is among the worst-performing tokens, technical signs indicate that it may be poised for a triple-digit increase in the upcoming weeks.
Falling Wedge + Double Bottom: Is Pi Coin Set for Explosive Growth?
As Pi Network‘s buzz has diminished over the last few months, so has its volume. The market is in the Wyckoff Theory’s accumulation phase when the Average True Range and the Bollinger Bands show low volatility. This stage, which is marked by strong demand and FOMO, is usually followed by the markup.
At $0.4010, the price of Pi Network has created a double-bottom pattern, with a neckline at $1.6656. The double bottom is a popular and reliable bullish reversal pattern. Additionally, a falling wedge—a typical bullish reversal sign—has developed.
As bulls aim for the double-bottom‘s neckline at $1.6656, up 275% from the current level, the token will therefore probably recover. More increases, possibly to the all-time high of $2.98, up 570% from the current level, will be indicated by a rise above that level.
Is Pi Network Set to Surge? AI Growth and Exchange Listing Rumors Fuel Hype
There are a lot of factors that could cause the price of Pi Network to rise in the upcoming weeks. The altcoin season, which could occur this year, is the primary driver. This year, the Altcoin Season Index, which is regularly monitored, has risen to 55. Most altcoins would gain more from such a change.
Second, even though Pi coin isn’t listed on any significant tier-1 exchanges, there is a remote possibility that one or more of them will. Considering that Pi is one of the most well-known coins in the cryptocurrency space, such a move would probably cause a parabolic increase. Additionally, a few days after the Pi AI Studio was released, the number of AI applications increased. This indicates that the Pi Network ecosystem is expanding.
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