Pi Network (PI) has ignited a bullish rally with a 15% surge in the last 24 hours, breaking free from a seven-week consolidation phase. Trading at $0.61** on June 25, Pi Coin’s trading volume spiked **66%** to **$196 million, signaling strong investor interest. This breakout has traders speculating whether PI could reach $1 in the near term.
Key Technical Developments Driving Pi Network’s Rally
1. Falling Wedge Breakout: A 30% Upside Potential
Pi Coin price decisively closed above the upper boundary of a falling wedge pattern—a bullish reversal signal. The pattern’s height suggests a 30% rally (target: **$0.78**), mirroring the swing from May 17 ($0.66) to May 21 ($0.86).
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Critical Support: Bulls must defend the wedge’s upper boundary ($0.60) to sustain momentum.
2. Rounding Bottom Confirms Bullish Reversal
A matured rounding bottom pattern on the 4-hour chart reinforces the uptrend. The breakout above its neckline projects a 28% rise (target: $0.78), aligning with the falling wedge forecast.
Caution: The RSI at 81 warns of overbought conditions, potentially triggering short-term pullbacks.
Market Sentiment and External Catalysts
- Broader Crypto Recovery: PI’s rally coincides with a market-wide uptick.
- Geopolitical Impact: De-escalation in the Iran-Israel conflict (as noted by CoinGape) may further buoy prices.
Pi Network Price Forecast: Path to $1?
If buying pressure persists and profit-taking remains subdued, PI could challenge $1. Key levels to watch:
- Immediate Resistance: $0.78 (30% rally target).
- Long-Term Goal: $1.00 (psychological milestone).
FAQs: Addressing Key Pi Network Queries
1. Why is Pi Coin price rising today?
Pi Network benefits from broader crypto market recovery and heightened buy-side activity.
2. Can Pi Coin sustain its gains?
Yes, if it holds above wedge/resistance levels ($0.60) and avoids overbought corrections.
3. What’s Pi Network’s near-term outlook?
A 30% surge is likely post-breakout, targeting $0.78.
Why This Matters for Investors
Pi Network’s technicals and market alignment present a compelling case for growth. However, always:
- Diversify portfolios.
- Monitor RSI for overbought signals.
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Disclaimer: This content reflects market conditions and the author’s analysis. Conduct independent research before investing.
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