Could Pi Network Break Out of Its Range—and What’s Stopping It?

Pi Network's price has shown signs of potential movement in recent weeks, with technical indicators pointing to a possible rebound. The token was trading at approximately $0.34 as of late, fluctuating within a range it has maintained since August. One of the key signals is the narrowing of Bollinger Bands, a technical indicator that suggests a reduction in price volatility and the potential for a breakout in the near future. This pattern has historically led to sharp price movements, and analysts are closely watching whether similar conditions may arise again [1].

In addition to the Bollinger Bands, the Pi coin has formed a double-bottom pattern at $0.3160, indicating that sellers have been hesitant to push the price lower, and that a bullish reversal may be on the horizon. The Wyckoff Theory also suggests the token is in an accumulation phase, marked by low trading volume and sideways price movement. This phase is typically followed by a significant price surge, as buyers prepare to push the asset higher. The falling wedge pattern, another bullish sign, reinforces the possibility of a strong upward move [1].

If the current technical indicators hold, the next target for Pi Network is likely to be $0.4670, the highest point reached in August. A breakout above this level could signal further gains, with some analysts predicting a potential move to the psychological level of $1, a target that would represent a nearly 200% increase from the current price. This projection is supported by the fact that Pi's MVRV (Market Value to Realized Value) ratio remains below 1, which historically has been a strong indicator of undervaluation [1].

One of the most anticipated catalysts for a potential price surge is a listing on a major cryptocurrency exchange. Pi has already been listed on several platforms, including Onramp Money, Banxa, and TransFi, and there are expectations that larger exchanges such as Binance and Upbit may follow suit. Historically, listings on major exchanges have led to sharp price increases, with some cryptocurrencies experiencing triple-digit gains in the days following their debut. A listing could provide the necessary liquidity and visibility for Pi to break out of its current range [1].

The broader market environment may also play a role in Pi’s potential price movement. Analysts suggest that a favorable shift in market sentiment could be triggered by the Federal Reserve’s expected interest rate cuts and the potential approval of altcoin ETFs by the SEC. These developments could spark a broader altcoin season, which would likely benefit Pi as one of the most recognized but undervalued tokens in the space. However, it is important to note that these are external factors and not guarantees of a price surge [1].

Despite the positive technical indicators, there are still challenges that Pi must overcome. The token remains in a relatively low market cap compared to other cryptocurrencies, and its adoption has been slow. Some investors have already shifted their focus to other projects, such as Remittix, which has secured major exchange listings and is actively developing tangible products. While Pi’s roadmap remains uncertain, its supporters continue to highlight its potential as a mobile-mined coin with a growing user base. However, without a clear and transparent roadmap or accessible documentation, Pi remains a high-risk, high-reward investment [3].

Source:

[1] Pi Network price on the edge: Bollinger Bands & Wyckoff signal a squeeze (https://crypto.news/pi-network-price-on-the-edge-bollinger-bands-wyckoff-signal-a-squeeze/)

[2] Here's why Pi coin price may go parabolic in September (https://crypto.news/heres-why-pi-coin-price-may-go-parabolic-in-september/)

[3] Pi Coin vs Bitcoin: Comparison Opportunities and Predictions (https://www.bitrue.com/blog/pi-bitcoin-comparison-opportunity)