Will Pi Network Recover? Important Breakthrough Signals Indicate Potential Price Rise

This week, the cryptocurrency market is filled with strong movements, and a token that has drawn attention is Pi Network (PI). Earlier this month, speculation surrounding an important announcement from the Pi Core Team caused the price to surge, only to later experience a sharp correction after the actual news broke — a classic event of "Buy the rumor, sell the news." On May 8th, when the research team hinted at the development of a large ecosystem, PI surged over 160% in just a few days, peaking at $1.66. However, after the $100 million venture capital fund was officially announced on May 14th, the token sharply declined, losing 60% of its value. Currently, PI is once again signaling a price increase — up nearly 8% in a day — and this time, an important technical breakthrough may indicate that a real recovery is underway.

The breakout signal of the Falling Wedge indicates bullish potential. On the 3-hour chart, PI has formed a descending wedge pattern, a bullish reversal structure that typically appears after a strong downtrend. This pattern emerges after a significant correction of the token from a high of $1.66, hitting a low of about $0.66, where buyers have returned to the market. With today's recovery, PI has broken through the resistance level, accompanied by a price increase surpassing the 200-period moving average — an important trend indicator that is now acting as new support.

From the current trading price of $0.75, the next important level to watch is the MA 100 resistance at $0.84. A successful close above this level will further confirm the breakout, potentially driving the ongoing bullish rally. The main price increase targets include: 0.96 – recent horizontal resistance $1.33 – average resistance area $1.66 – previous local high These levels indicate the potential for a price increase of up to 120% compared to the current price if the upward momentum continues. What is the next step of PI? To maintain this breakthrough price increase, PI must stay above the MA 200 support level and make a strong advance past the MA 100 resistance level at $0.84. Doing so will reinforce the technical breakout and potentially draw attention from more traders wanting to follow the next upward trend. However, it is important to note that PI has a history of price volatility, especially around announcements and speculation. Although the setup looks promising, traders should be cautious and consider risk management carefully.