Date: Tue, July 08, 2025 | 07:06 AM GMT
The cryptocurrency market has maintained steady bullish momentum since the start of Q2, with Ethereum (ETH) rallying over 72% in the last 90 days. This broad recovery lifted many major altcoins — but Pi Network (PI) has notably lagged behind. Despite the rollout of new features and ecosystem updates, PI continues to face significant downside pressure.
The token is currently in the red over the last three months, largely due to multiple rounds of token unlocks, which have flooded the market and triggered selling pressure. However, a shift may be on the horizon — especially from a technical perspective.
Right-Angled Broadening Bottom Pattern in Play
On the 4-hour chart, PI appears to be trapped within a Right-Angled Broadening Bottom Pattern, a formation that has been developing since late May. This technical pattern often signals a potential trend reversal when the breakout occurs in the upward direction.
The price has been consistently making lower lows while holding a relatively flat resistance zone, which fits the textbook structure of this pattern. Currently, PI is hovering just above the key support near $0.456, and a further dip toward $0.40 is possible before any major move materializes.
What’s Next for PI?
If the pattern continues to unfold as expected, PI could retest the lower boundary around $0.40. This level will be crucial — a strong bounce from this zone could confirm the base of the formation and ignite a move back toward the upper resistance near $0.66.
A breakout above this top trendline would complete the bullish reversal and may open the door for a bigger rally, with the next target possibly around $1.10 — a key psychological and technical resistance zone.
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